| This is, however, slower than the 35 per cent increase recorded in October.
|
| |
| Merchandise exports from India during November 2007 rose a healthy 26.82 per cent (in dollar terms) to $12.42 billion from $9.79 billion a year ago.
|
| |
| However, export growth during the month was lower than the 35.59 per cent increase recorded in November 2006 over November 2005. In addition, export growth during the month under consideration was slower than the 35 per cent increase in October.
|
| |
Significantly, the increase in exports during the month came at a time when annual appreciation of the rupee against the dollar was around 13 per cent.
| EXPORT-IMPORT DATA (APRIL-NOVEMBER) |
| |
Nov-07
($) |
Nov-06
($) |
Apri-Nov 07
($) |
Apr -Nov 06
($) |
Nov-07
(Rs) |
Nov-06
(Rs) |
Apri-Nov 07
(Rs) |
Apr - Nov 06
(Rs) |
Exports
(% growth) |
26.82 |
35.59 |
22.08 |
26.6 |
11.51 |
32.63 |
8.02 |
31.42 |
Imports
(% growth) |
29.26 |
38.44 |
26.97 |
27.76 |
13.66 |
35.41 |
12.43 |
32.62 |
| Source: Department of Commerce |
|
| |
| Analysts have been attributing robust exports to the performance of petroleum, engineering goods as well as gems and jewellery sectors, which account for more than 50 per cent of the country’s export basket.
|
| |
| However, engineering goods exporters have been maintaining that export of many products from the sector have gone down in volume terms.
|
| |
| Recent petroleum ministry data showed the country’s refineries processed 5.2 per cent more crude oil in November. Reliance and Essar account for 90 per cent of the oil products exported.
|
| |
| In rupee terms, the export growth during the month was 11.51 per cent against 32.63 per cent a year ago, pointing to diminishing realisations in rupee terms. The government has announced three packages worth more than Rs 5,000 crore during the past six months to help exporters tide over the losses due to the rising rupee.
|
| |
| The April-November export growth stood at 22.08 per cent, lower than the 26.6 per cent rise in 2006. However, Commerce Minister Kamal Nath has been maintaining that exports during 2007-08 will reach the target of $160 billion.
|
| |
| Imports in November 2007 stood at $19.83 billion, a rise of 29.26 per cent against $15.34 billion recorded in the same month a year ago. In the April-November period, imports increased by 26.97 per cent to $151.19 billion against $119.90 billion in the corresponding period in 2006.
|
| |
| Non-oil goods continued to boost imports with an increase of 35.30 per cent to $14 billion in the month under consideration against $10.35 billion a year ago. Meanwhile, oil imports during November increased by 16.72 per cent to $5.82 billion, against $4.98 billion in the same month in 2006.
|
| |
| As the value of imports remained higher than exports, trade deficit during November 2007 stood at $7.40 billion, as against $5.54 billion a year ago, a rise of 33.57 per cent.
|
| |
| In the April-October period, trade deficit increased by 37.21 per cent and stood at $52.8 billion against $38.48 billion in the year-ago period. |
| |
Content Guide
