Mumbai: India''s exports increased by 19.26 per cent in September this year while imports rose by a moderate 2.31 per cent. Exports rose to $12.79 billion while imports stood at $17.21 billion in September, according to official data released today.

In rupee terms, however, exports rose 4.31 per cent while imports declined by 10.51 per cent.

Cumulative value of exports for the April-September 2007 period stood at $72.28 billion (Rs2,95,233.05 crore) against $60.98 billion (Rs2,80,275.27 crore) earlier, registering a growth of 18.52 per cent in dollar terms and 5.34 per cent in rupee terms.

Cumulative value of imports for the April-September period stood at $109.20 billion (Rs 4,46,420.86 crore) against $87.01 billion (Rs3,99,815.04 crore) during the year-ago period, registering a growth of 25.51 per cent in dollar terms and 11.66 per cent in rupee terms.

The country''s trade deficit declined 28 per cent to $4.42 billion in September against $6.09 billion in the year-ago period. It stood at $36.92 billion in the first six months of the fiscal year that began in April.

Non-oil import growth during the first half of the fiscal year has been strong at 34.13 per cent.

Analysts expect the rise in value of the rupee to stem the pace of growth of exports in the coming months.

They expect high global oil prices and robust demand for capital goods to maintain pressure on India''s import bill and widen the trade deficit.

The rupee hit a high of 39.22 against the US dollar, though it later declined following intervention by the Reserve Bank of India (RBI). The level was its strongest since March 1998.