NEW DELHI: India's exports grew by a healthy 16.04% in December 2007 in dollar terms but managed a paltry improvement of 2.54% in rupee terms, impacted by a strong domestic currency against the US dollar.
Exports went up to $12.31 billion in December 2007 amid exporters' concerns over slowdown in the US economy and appreciation in rupee against the dollar.
In rupee terms, exports were valued at Rs 48,569.64 crore, growing by just 2.54% in December 2007.
Imports during the month were valued at $17.68 billion, up 18.06%, from $14.97 billion in December 2006. In rupee terms, imports increased by 4.31% to Rs 69,731.56 crore in December.
For the April-December period of 2007-08, India's exports stood at $111.04 billion, registering an encouraging growth of 21.76% from $91.2 billion in the corresponding period of the previous fiscal.
India's trade deficit for April-December period of the current fiscal widened by about 35% to $57.82 billion from $42.85 billion in the year-ago period.
"The export figures are encouraging. The next three months - peak period for exporters - are likely to see exports in the range of $40 billion," Federation of Indian Export Organisations Director General said.
He said at the current rate, exports would be in the range of $145-150 billion for 2007-08, falling short of the $160 billion target set by the government.
Commerce Secretary Gopal Pillai maintained that India will be able to achieve exports worth $150 billion despite the US slowdown and rupee impact.
Sahai, however, said cut in the US interest rates would lead to further appreciation of the rupee which would impact exporters' margins.
The rupee has appreciated by about 15% against the dollar in the last one year impacting export growth, particularly of labour intensive sectors such as textiles, leather, marine products and handicrafts.
Imports for the April-December period of current fiscal grew 25.97% to $168.87 billion, compared to 134.05 billion in the year-ago period, according to official data released on Friday.
In rupee terms, exports grew by 7.74% in April-December 2007, while imports were up by 11.54%.
Oil imports during December 2007 were valued at $5.96 billion, up 23.78% from $4.81 billion in 2006. For the nine-month period of the current fiscal, oil imports were to the tune of $49.31 billion, 11.68% higher than $44.15 billion in the corresponding period of previous fiscal.
Non-oil imports during December 2007 were $11.71 billion, up 15.34% from $10.15 billion in December 2006. During April-December 2007, non-oil imports grew 32.99% to $119.55 billion as compared to $89.89 billion in the same period of previous fiscal.
Exports went up to $12.31 billion in December 2007 amid exporters' concerns over slowdown in the US economy and appreciation in rupee against the dollar.
In rupee terms, exports were valued at Rs 48,569.64 crore, growing by just 2.54% in December 2007.
Imports during the month were valued at $17.68 billion, up 18.06%, from $14.97 billion in December 2006. In rupee terms, imports increased by 4.31% to Rs 69,731.56 crore in December.
For the April-December period of 2007-08, India's exports stood at $111.04 billion, registering an encouraging growth of 21.76% from $91.2 billion in the corresponding period of the previous fiscal.
India's trade deficit for April-December period of the current fiscal widened by about 35% to $57.82 billion from $42.85 billion in the year-ago period.
"The export figures are encouraging. The next three months - peak period for exporters - are likely to see exports in the range of $40 billion," Federation of Indian Export Organisations Director General said.
He said at the current rate, exports would be in the range of $145-150 billion for 2007-08, falling short of the $160 billion target set by the government.
Commerce Secretary Gopal Pillai maintained that India will be able to achieve exports worth $150 billion despite the US slowdown and rupee impact.
Sahai, however, said cut in the US interest rates would lead to further appreciation of the rupee which would impact exporters' margins.
The rupee has appreciated by about 15% against the dollar in the last one year impacting export growth, particularly of labour intensive sectors such as textiles, leather, marine products and handicrafts.
Imports for the April-December period of current fiscal grew 25.97% to $168.87 billion, compared to 134.05 billion in the year-ago period, according to official data released on Friday.
In rupee terms, exports grew by 7.74% in April-December 2007, while imports were up by 11.54%.
Oil imports during December 2007 were valued at $5.96 billion, up 23.78% from $4.81 billion in 2006. For the nine-month period of the current fiscal, oil imports were to the tune of $49.31 billion, 11.68% higher than $44.15 billion in the corresponding period of previous fiscal.
Non-oil imports during December 2007 were $11.71 billion, up 15.34% from $10.15 billion in December 2006. During April-December 2007, non-oil imports grew 32.99% to $119.55 billion as compared to $89.89 billion in the same period of previous fiscal.
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