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India’s merchandise exports during the financial year (April2004 to March 2005) have reached nearly US $ 80 billion – being valued at US $ 79593.59 million ($ 79.59 billion), indicating a record growth of 24.41% over the level of US $ 63978.78 million ($ 63.9 billion) during April-March 2003-04. This is substantially higher than the 21.31% export growth in April-March 2003-04 over April-March 2002-03. The export growth rate target of 16% originally set for the year 2004-05 (corresponding to a value of US $ 73.4 billion) has thus been exceeded by as much as 50%. Some more trade returns are expected in the next few weeks and the total export figure is thus expected to register a further increase. In rupee terms, the exports were Rs.357076.54 crore during April-March 2004-05, which is 21.72% higher than the value of exports during April-March 2003-04.
Exports during March 2005 are valued at US $ 8513.53 million, which is 8.28% higher than the level of US $ 7862 million during March 2004. This is over and above the 52.63% export growth in March 2004 over March 2003. In rupee terms, the exports were Rs.37196.06 crore, which is 5.09% higher than the value of exports during March, 2004.
India’s imports during April-March 2004-05 are valued at US $ 106121.18 million (US $ 106 billion) representing an increase of 35.62% over the level of imports valued at US $ 78250.86 million in April-March 2003-04.
Oil imports during April-March 2004-05 are valued at US $ 29084.88 million which is 41.19% higher than oil imports valued at US $ 20599.19 million in the corresponding period last year. Non-oil imports during April-March 2004-05 are estimated at US $ 77036.30 million, which is 33.62% higher than the level of such imports valued at US $ 57651.67 million in April-March 2003-04.
Imports during March 2005 are valued at US $ 10083.90 million representing an increase of 25.52% over the level of imports valued at US $ 8033.86 million in March 2004. In rupee terms, the imports increased by 21.82%.
The trade deficit for April-March 2004-05 is estimated at US$ 26527.59 million, which is higher than the deficit at US $ 14272.08 million during April-March 2003-04.
Tables giving details of exports, imports and trade balance, according to the provisional estimates of Directorate General of Commercial Intelligence & Statistics (DGCI&S) are attached.
IMPORTS & EXPORTS : (PROVISIONAL)
(Unadjusted for late returns)
(US $ Million)
March
April-March
EXPORTS
_________
2003-2004*
7862.60
63978.78
2004-2005
8513.53
79593.59
%Growth 2004-2005/2003-2004
8.28
24.41
IMPORTS
_________
2003-2004*
8033.86
78250.86
2004-2005
10083.90
106121.18
%Growth 2004-2005/2003-2004
25.52
35.62
TRADE BALANCE
_______________
2003-2004*
-171.26
-14272.08
2004-2005
-1570.37
-26527.59
*Final figures as given by DGCI&S
IMPORTS & EXPORTS : (PROVISIONAL)
(Unadjusted for late returns)
(Rs Crores)
March
April-March
EXPORTS
_________
2003-2004*
35395.78
293366.76
2004-2005
37196.06
357076.54
%Growth 2004-2005/2003-2004
5.09
21.72
IMPORTS
_________
2003-2004*
36166.77
359107.66
2004-2005
44057.08
476201.92
%Growth 2004-2005/2003-2004
21.82
32.61
TRADE BALANCE
_______________
2003-2004*
-770.99
-65740.90
2004-2005
-6861.02
-119125.38
*Final figures as given by DGCI&S
SB/MRS
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