New Delhi, June 1: The country's exports had a flying start in April thisyear by notching up a 30.04 per cent growth over the same month last year.Imports, too, registered a sharp increase of 43.64 per cent, according toprovisional trade data released by the commerce ministry on Wednesday.The data show that exports were valued at $3,422.62 million against$2,632.02 million and imports at $4,532.97 million against $3,155.78million. Oil imports jumped by 123.12 per cent to $1,295.29 million from$580.24 million.
Non-oil imports, on the other hand, increased by only 25.72 per cent percent, from $2,575.24 million to $3,237.68 million.
The trade deficit in April this year was much higher than the $523.76million recorded in April last year.
The commerce ministry has set an export growth target at 18 per cent for2000-01, based on the projected performance of some of the major sectors.The country displayed an impressive export performance in 1999-2000 byclocking a 11.58 per cent, exceeding the target of 11.3 per cent. This wasin sharp contrast to the rather poor showing in the preceding two years ofthe Ninth Plan.
The exports in 1999-2000 were estimated at $37,537.54 million ($37.53billion) compared to $33,641.46 million in the preceding year.
Imports in 1999-2000 were estimated at $46,153.77 million, 10.19 per centhigher than the level of $41,886.63 million in the same period of thepreceding year.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.