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Exports grow 13.5% in first half

New Delhi, Nov. 1: Exports posted a double-digit growth of 13.49 per cent in the first six months of the current fiscal to $ 23.97 billion, from $ 21.12 billion in the first half of 2001-02.

According to provisional trade data estimates released by the Directorate General of Commercial Intelligence and Statistics, exports grew 7.90 per cent till September to $ 3.99 billion, compared with $ 3.7 billion in the same month last year.

In rupee terms, exports were up 17.51 per cent at Rs 1,16,946 crore in the first half, compared with Rs 99,519 crore in April-September 2001.

Imports in this period surged 8.49 per cent to $ 28.28 billion from $ 26.07 billion, and, despite a quantum jump in oil imports, which grew 13.43 per cent, trade deficit came down marginally to $ 4.3 billion from $ 4.9 billion.

Imports in rupee terms surged by 12.34 per cent to Rs 1,37,910 crore during the six-month period as against Rs 1,22,759 crore in the first half of the last fiscal. As a result, trade deficit in rupee terms came down to Rs 20,964 crore, from Rs 23,240 crore a year ago.

Oil imports stood at $ 8.7 billion during the first half of 2002-03, up from $ 7.7 billion in April-September last year. Non-oil imports grew by 6.41 per cent to $ 19.55 billion, against $ 18.37 billion in the year-ago period.

Imports in September surged by 30.97 per cent to $ 5.11 billion from $ 3.90 billion a year ago. As a result of higher imports, trade deficit for the month of September increased to $ 1.12 billion, from $ 200 million a year ago.

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