labels: economy - general
Exports vault 40.17 per cent in June 2006news
15 July 2006

Mumbai: Exports from the country increased by a record 40.17 per cent in June 2006 to $9.9 billion, against $7.1 billion in the corresponding period last year, as per provisional government data released on Friday. Imports during the month were up 23.98 per cent at $13.76 billion. Trade deficit for the month was lower at $3.8 billion as against $3.99 billion during the corresponding period last year. For the first quarter of the current financial year, exports were up 32.40 per cent at $ 27.6 billion, while imports rose 24.48 per cent to $40.28 billion. Trade deficit for April-June 2006 also rose to $12.6 billion, from $11.45 billion during the same period last year. In rupee terms, exports during June 2006 were higher at Rs45,905 crore as against Rs30,992 crore in June 2005. April-June exports were 38.18 per cent higher at Rs1,25,915 crore compared to the corresponding period last year. Imports in June 2006 were up 31 per cent, at Rs63,391 crore, and rose 30 per cent to Rs1,83,223 crore for the period April-June 2006. The spectacular show by engineering goods, electronic and software products and minerals contributed much to the robust growth in exports during the first quarter of this fiscal "At this rate, I am confident that India''s merchandise exports will hit $126 billion this year, representing a doubling of exports within just three years - something unprecedented anywhere else," said commerce minister Kamal Nath. Oil imports during June 2006 were up 56 per cent, at $4,817.6 million, from the corresponding period last year and rose 39 per cent overall, to $13.12 billion, during the period April-June 2006. Non-oil imports during June 2006 was up 10 per cent at $8.94 billion while during April-June it was 27.15 per cent higher at $27.15 billion compared to the corresponding periods of the previous year.


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Exports vault 40.17 per cent in June 2006