Exports bounce back to double-digit growth

After slowing down in August, India’s merchandise exports bounced back to register a double digit growth at 16 per cent in September at...

After slowing down in August, India’s merchandise exports bounced back to register a double digit growth at 16 per cent in September at $4.98 billion as against $4.29 billion in September, 2002.

Export growth had slipped to single digit in the month of August at 4.19 per cent. In rupee terms, exports stood at Rs 22,841.93 crore, 9.73 per cent higher than the value during September, 2002, according to the official trade data released here. India’s exports during the first half (April-September) of fiscal 2003-04 continued the growth momentum, recording a cumulative growth of 9.99 per cent at $27.43 billion as against $24.94 billion during the corresponding period last year.

In rupee terms, exports were to the tune of Rs 1,27,610.18 crore during April-September, 2003, a growth of 4.89 per cent over last year. India’s imports during September were up by 16.25 per cent at $5.911 billion as against $5.085 billion in September 2002. In rupee terms, imports increased by 10.02 per cent in September 2003. Trade deficit for April-September, 2003-04 is estimated at $7.115 billion, which is higher than $3.513 billion during April-September, 2002-03.

Oil imports during April-September, 2003-04 increased by 6.34 per cent at $9.214 billion as against $8.665 billion in the corresponding period last year. Non-oil imports during April-September, 2003-04 increased by 28.02 per cent at $25.339 billion as against $19.794 billion in the same period a year ago.

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