May trade deficit up 45

The country8217;s exports grew at 18.07 per cent in May, while non-oil goods pushed overall imports by 26.36 per cent 8212; inflating the trade deficit by over 45 per cent compared to the year-ago period. Exports in May stood at 11.86 billion against 10.04 billion, while imports went up to 18.07 billion from 14.30 billion, leaving a trade deficit of 6.21 billion against 4.26 billion in May 2005. However, export growth was slower in May compared to the 23.06 per cent achieved last month. 8220;The export figures in May reflects execution of old orders by exporters. The rupee rise impact may be visible from July onward,8221; commerce minister Kamal Nath said.

Oil imports dropped by 2.99 per cent to 4.74 billion in May this fiscal from 4.88 billion in the comparable month of the previous year, according to official data released. Fuelled by fast economic growth, non-oil imports went up by a whopping 41.58 per cent to 13.33 billion against 9.42 billion in May 2006-07.