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India’s exports during August 2005 have registered a record growth of nearly 25%. According to the provisional data available from the Directorate General of Commercial Intelligence & Statistics (DGCI&S), exports during August 2005 are valued at US $ 7354.98 million ($ 7.3 billion) which is 24.91% higher than the level of US $ 5887.99 million ($ 5.8 billion) during August 2004. In rupee terms, the exports were Rs.32085.72 crore, which is 17.59% higher than the value of exports during August 2004. Commenting on the export trends, Shri Kamal Nath, Union Minister of Commerce & Industry, has said that the high growth has been achieved in spite of the Mumbai floods and other constraints and reflects the growing competitiveness of India’s exports.
Exports during April-August 2005-06 are valued at US $ 35759.90 million ($ 35.7 billion) which is 23% higher than the level of US $ 29076.46 million ($ 29 billion) during April-August 2004-05. In rupee terms, the exports were Rs.155889.61 crore, during April-August 2005-06 which is 18.03% higher than the value of exports during April-August 2004-05.
India’s imports during April-August 2005-06 are valued at US $ 53191.14 million ($53.1 billion) representing an increase of 37.07% over the level of imports valued at US $ 38805.00 million in April-August 2004-05.In rupee terms, imports increased by 31.48%.
Oil imports during April-August 2005-06 are valued at US 16427.86 million which is 36.87% higher than oil imports valued at US $ 12002.13 million in the corresponding period last year. Non-oil imports during April-August 2005-06 are estimated at US $ 36763.28 million which is 37.16% higher than the level of such imports valued at US $ 26802.87 million in April-August 2004-05.
Imports during August 2005 are valued at US $ 10494.86 million representing an increase of 32.44% over the level of imports valued at US $ 7924.14 million in August 2004. In rupee terms, the imports increased by 24.68%.
The trade deficit for April-August 2005-06 is estimated at US $ 17431.24 million which is higher than the deficit at US $ 9728.54 million during April-August 2004-05.
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