India’s merchandise exports up in January, oil imports down

March 1st, 2011 - 4:11 pm ICT by IANS  

New Delhi, March 1 (IANS) India’s merchandise exports were up over 32 percent in January even as oil imports, over which government has expressed worry because of rising global prices, were actually down nearly 8 percent, latest trade data showed Tuesday.The merchandise exports, as per commerce ministry data, were valued at $20.605 billion in the month under review, which was 32.4 per cent higher than the level of $15.557 billion in the corresponding month of last year.

Cumulative value of exports for the first 10 months of this fiscal was $184.632 billion, registering a growth of 29.3 percent over $142.740 billion logged during the like period of the previous fiscal.

Imports during January 2011 were valued at $28.587 billion representing a growth of 13.1 percent in Dollar terms over $25.267 billion in January 2010. Cumulatively the imports were up 17.6 percent at $273.598 billion against $23.2582 billion.

Oil imports during January were valued at $7.852 billion, 7.8 percent lower than $8.513 billion in the like month of last fiscal. During the first 10 months of this fiscal, these imports were 13.9 percent higher at $79.957 billion, against $70.175 billion.

The trade deficit for the first 10 months was estimated at $88.965 billion against $89.843 billion during the like period of last fiscal.

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