The latest trade data released today showed Indian exports during July was increased to $ 2.99 billion against $ 2.78 billion in July 1997.

However, exports during the first four months of the financial year registered a negative three per cent growth as shipments from the country from April to July slid to $ 10.62 billion against $ 11.03 billion during the corresponding period last year.

In rupee terms, exports were up by 10.82 per cent during the period and for July the growth was 28.12 per cent. Trade deficit during the period widened further to $ 3.30 billion against $ 1.83 billion during the same period last year.

The rise in trade balance was in tune with the fall in rupee value against the dollar during May and June this year as imports costs were up against lowered export value.

Imports during July registered a significant rise of 18.70 per centto $ 3.80 billion against $ 3.20 billion in July 1997 in view of the rupee fall.

During April-July, imports increased by 8.26 per cent at $ 14 billion against $ 13 billion during the same period last year. Oil imports during the period was valued at $ 1.8 billion, down 31.27 per cent against 2.65 billion dollars during April-July last year.

Non-oil imports during April-July were estimated at 12.1 billion dollars, up by 18.54 per cent against $ 10.2 billion during the same period last year. While exports during April-June had registered a 7.94 per cent fall and imports were up by 3.75 per cent during the period, compared to last year. Trade balance at the end of the first quarter was $ 2.4 billion.