January Export Reports 20.47pc Growth

New Delhi: Even as exporters complain about the adverse affect of the increasing rupee and lack of supportive measures in the Union Budget 2008-09, the country''s exports for January 2008 reported a growth of 20.47 per cent and cumulative export growth during the first 10 months of the fiscal at 21.62 per cent in dollar terms. But in rupee terms, export growth in January 2008 was 7 percent and cumulatively it was 7.66 per cent which is the real crunch confronting exporters in general and in labour-intensive sectors in particular. Cumulatively, value of exports for April 2007 to January 2008 at $124.19 billion was 21.62 per cent higher than $102.11 billion during the corresponding months of the previous fiscal.

Imports, on the other hand, during January at $22.5 billion were 63.57 per cent higher than the level of such imports amounted at $13.75 billion in January 2007. Oil imports during January 2008 at $7.7 billion were 60.81 per cent higher than oil imports of $4.79 billion in January 2007. Non-oil imports during January 2008 were estimated at $14.79 billion, against $8.96 billion in January 2007, showing a hefty growth of 65 per cent. As a result of high export growth and a higher import growth the country''s trade deficit during the first 10 months of the current fiscal increased to $67.41 billion which was higher than the deficit of $45.70 billion during April- January 2007.