Thaindian News

New Delhi, Oct 1 (IANS) India’s exports in the five months since April have dipped 31 percent in dollar terms and 20.4 percent in rupee terms, government data released Thursday said.
Imports fell 32.4 percent in dollar terms and 23.9 percent in rupee terms during the same period.

According to an official statement, cumulative value of exports in the April-August period stood at $64.13 billion (Rs.311,715 crore), as against $92.96 billion (Rs.391,841 crore) during the corresponding period last year.

Exports during August were valued at $14.3 billion (Rs.69,066 crore), 19.4 percent lower in dollar terms and 9.2 percent in rupee terms, than the $17.72 billion (Rs.76,103 crore) earned in the corresponding month last year.

Cumulative value of imports during April-August was $102.3 billion (Rs.497,108 crore), as against $153.69 billion (Rs.648,041 crore) in the corresponding period last fiscal.

Imports during August were valued at $22.66 billion (Rs.109,533 crore), a decrease of 32.4 percent in dollar terms and 23.9 percent in rupee terms compared to that in the like month last year.

The decline — of 33.4 percent in dollar terms and 23.3 percent in rupee terms — was mainly on account of lower oil import bill.

Oil imports in the first five months this fiscal were valued at $28.27 billion, 47.4 percent lower than the $53.74 billion spent in the corresponding period last year.

The oil bill in August stood at $6.28 billion, 45.5 percent lower than the $11.52 billion totted up in the corresponding month last year.

Non-oil imports were also lower by 25.5 percent.

Trade deficit during April-August was estimated at $38.17 billion — lower than the deficit of $60.73 billion during the same period last year.