Merchandise exports from the country for the month of May 2006 were at $9.36 billion – an increase of 29.59 per cent from $7.22 billion for May 2005. In rupee terms, exports have increased 35.31 per cent to Rs42,492 crore from Rs31,405 crore during May 2005.

Imports for May 2006 increased 21.67 per cent to $13.19 billion from $10.84 billion for the same month of previous year. In Rupee terms, imports increased 27.04 per cent to Rs59,907 crore from Rs47,156 crore.

The trade deficit for the month increased to $3.83 billion, taking the total trade deficit for April-May 2006 to $7.21 billion.

The cost of oil imports increased 27.34 per cent during May 2006 to $4.15 billion on higher crude oil prices. Growth in non-oil imports is at a lower 19.24 per cent to $9.04 billion.

For the first two months of the current financial year, exports have increased at 28.4 per cent and imports have gone up by 22.79 in dollar terms. In rupee terms, growth in exports and imports for April-May 2006 is 33.05 per cent and 27.21 per cent respectively.