India's trade volume shrinks as exports, imports decline

India's exports fell to Rs53,435 crore ($11.01 billion) in May this year, down 29.2 per cent in dollar terms and 18.4 per cent in rupee terms from the level of Rs65,506 crore ($15.55 billion) during May 2008.

Cumulative value of exports during April-May 2009 stood at Rs107,214 crore ($21.75 billion) as against Rs129,846 crore ($31.63 billion) registering a negative growth of 17.4 per cent in rupee terms and 31.2 per cent in dollar terms over the same period last year.

India's imports during May 2009 stood at Rs78,682 crore ($16.21 billion), down 30 per cent in rupee terms and 39.2 per cent in dollar terms over the level of imports valued at Rs112,405 crore ($26,684 million) in May 2008.

Cumulative value of imports during April-May 2009 stood at Rs157,514 crore ($31.96 billion) as against Rs211,752 crore ($51.51 billion) registering a negative growth of 25.6 per cent in rupee terms and 38 per cent in dollar terms over the same period last year.        

The trade deficit for April-May 2009 was estimated at $10.21 billion against $19.88 billion during April-May 2008.

Oil imports during May 2009 were valued at $4.14 billion, down 60.6 per cent from the oil imports valued at $10.50 billion in the corresponding period of the previous year. Cumulative oil imports during April-May 2009 were valued at $7.77 million down 59.6 per cent from the oil imports of $19.24 billion in the corresponding period last year.