Exports up by 12.9% in May 2008

India's exports during May, 2008 were valued at US $ 13782 million which was 12.9 per cent higher than the level of US $ 12210 million during May, 2007. In rupee terms, exports touched Rs. 58057 crore, which was 16.6 per cent higher than the value of exports during May, 2007. Cumulative value of exports for the period April- May, 2008 was US$ 28182 million (Rs. 115690 crore) as against US$ 23163 million (Rs. 95958 crore) registering a growth of 21.7 per cent in Dollar terms and 20.6 per cent in Rupee terms over the same period last year.

Imports during May, 2008 were valued at US $24548 million representing an increase of 27.1 per cent over the level of imports valued at US $ 19313 million in May, 2007. In Rupee terms, imports increased by 31.3 per cent. Cumulative value of imports for the period April- May, 2008 was US$ 48822 million (Rs. 200560 crore) as against US$ 37082 million (Rs. 153655 crore) registering a growth of 31.7 per cent in Dollar terms and 30.5 per cent in Rupee terms over the same period last year.

Oil imports during May, 2008 were valued at US $ 8465 million which was 50.8 per cent higher than oil imports valued at US $ 5613 million in the corresponding period last year.  Oil imports during April- May, 2008 were valued at US$ 16494 million which was 48.5 per cent higher than the oil imports of US$ 11106 million in the corresponding period last year.  

Non-oil imports during May, 2008 were estimated at US $ 16083 million which was 17.4 per cent higher than non-oil imports of US$ 13700 million in May, 2007. Non-oil imports during April- May, 2008 were valued at US$ 32329 million which was 24.5 per cent higher than the level of such imports valued at US$ 25976 million in April- May, 2007.                                   

            The trade deficit for April- May, 2008 was estimated at US $ 20640 million which was higher than the deficit at US $ 13919 million during April- May, 2007.