India's trade deficit up 60 per cent at $94 billion in April-December 2008
02 Feb 2009
India's trade deficit for April-December 2008 rose almost 60 per cent to an estimated $93.9 billion against $59 billion during April-December 2007.
Trade deficit for December 2008 stood at 31.5 per cent, with exports falling to 12.7 billion from 12.82 per cent in the same moth of the previous year and imports rising 9.0 per cent to $20.25 billion from $18.61 billion in the same month of the previous year.
Cumulative value of exports for the period April-December 2008 was $132 billion million (Rs585,594 crore) as against $112.74 billion (Rs454,997 crore) – up 17.1 per cent in dollar terms and 28.7 per cent in rupee terms over the same period last year.
Exports during December 2008 were valued at $12.7 billion, down 1.1 per cent from $12.83 billion in December 2007. In rupee terms, exports touched Rs61,715 crore a rise of 22 per cent from the exports during December 2007.
Imports during December 2008 were valued at $20.26 billion, an increase of 8.8 per cent over the level of imports valued at $18.61 billion in December 2007. In rupee terms, imports increased by 34.2 per cent.
Cumulative value of imports for April-December 2008 was $225.8 billion (Rs1,003,947 crore) as against $171.72 billion (Rs693,445 crore) – a growth of 31.5 per cent in dollar terms and 44.8 per cent in rupee terms over the same period last year.
Oil imports during December 2008 were valued at $4.712 billion, which was 30.9 per cent lower than oil imports valued at $6.82 billion in the corresponding period last year. Oil imports during April-December 2008 were valued at $78,827 million, which was 44.8 per cent higher than the oil imports of $54,421 million in the corresponding period last year.
Non-oil imports during December, 2008 were estimated at $15.54 billion, which was 31.9 per cent higher than non-oil imports of $11,786 billion in December 2007.
Non-oil imports during April-December 2008 were valued at $146,982 billion, which was 25.3 per cent higher than the level of such imports valued at $117.30 billion in April-December, 2007.
.jpg "India, Nigeria agree on local currency settlement system")
