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Exports up 10% at $4 bn in Oct

BS Economy Bureau in New Delhi

Exports registered a 10 per cent growth to touch $4.09 billion in October 2002 as against $3.72 billion during the corresponding month last year. Imports, however, grew a whopping 32.86 per cent in October 2002 at $5.44 billion compared to $4.09 billion in October 2001.

This was the second consecutive month when imports registered a substantial increase. In September, the surge in imports was on account of an over 30 per cent increase in imports of jems and jewellery.

The sharp difference in export and import growth pushed up the trade deficit to $1.35 billion in October 2002 as against $374.77 million in October 2001.

Exports grew 13.67 per cent at $28.24 billion during April-October 2002 as against $24.84 billion in the corresponding period last year, according to the provisional estimates of the director-general of commercial intelligence and statistics. The targeted annual export growth during April-October 2002 was 15 per cent.

Imports increased 12.32 per cent to touch $3.38 billion during April-October 2002 compared to $3.01 billion in April-October 2001. The trade deficit stood at $55.42 billion during April-October 2002 as against $52.33 billion in the corresponding period last year.

Oil imports went up 18.5 per cent to reach $10.37 billion during April-October 2002 as against $8.75 billion in the same period last year.

Non-oil imports rose 9.78 per cent to reach $23.42 billion during the seven-month period compared to $21.33 billion during April-October 2001.

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