Imports surge by 49% in April as demand picks up

Latest trade data showed that imports grew by a staggering 49 per cent in April. What is equally surprising is that excluding oil and gold, imports rose by 44 per cent in April. Moreover, the rate of growth of non-oil, non-gold imports has accelerated over the past few months. Imports of these items had grown by 4.2 per cent in January, 4.8 per cent in February and 19.8 per cent in March. 

What explains this rise? As economists look at non-oil, non-gold imports for signals about domestic demand, does this trend signal a sustainable pick-up in domestic demand?

Economists say