Exports dip to 16.46pc in July

Oil imports during April to July 2000 recorded 98.25 per cent growth as compared to $2.75 billion in the corresponding period in 1999. India’s imports continued to surge mainly due to the burgeoning oil import bill and from April to July this year, growth was put at 24.82 per cent and in July the growth was not as pronounced at 20.12 per cent. The trade deficit continued to be high at $3.71 billion in April to July this financial year as against $3.02 billion in the corresponding period in 1999. The imports in the first four months of this fiscal were put at $17.56 billion as compared to 14.$07 billion in the previous year. The monthly imports in July were valued at $4.29 billion against $3.57 billion in July 1999.