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INDIA’S EXPORTS CROSS TARGET
EXPORT GROWTH RATE AT 17.26% SURPASSES THE TARGET OF 12%
EXPORTS REACH $ 61.8 BILLION IN 2003-04
Date : 17 Apr 2004
Location : New Delhi
India’s Exports during March, 2004 are valued at US $ 7308.55 million which is 41.88% higher than the level of US $ 5151.37 million during March, 2003. This is over and above the 24.40% export growth in March, 2003 over March, 2002. In rupee terms, the exports in March, 2004 were Rs. 32901.57 crore, which is 34.07% higher than the value of exports during March, 2003.
Exports during April-March, 2003-2004 are valued at US $ 61845.10 million which is 17.26% higher than the level of US $ 52741.99 million during April-March, 2002-2003. This is over and above 20.34 % export growth in April-March, 2002-03 over the corresponding previous period. In rupee terms, the exports were Rs. 283604.52 crore, during April- March, 2003-2004 which is 11.16% higher than the value of exports during April- March, 2002-2003.
India’s Imports during April-March, 2003-2004 are valued at US $ 75209.06million representing an increase of 24.96% over the level of imports valued at US $ 60188.53 million in April- March, 2002-2003.In Rupee terms, the imports have increased to Rs. 346474.45 crore from Rs. 291132.93 crore showing a growth of 19.01% during the period.
Oil imports during April-March, 2003-2004 are valued at US $ 20170.25 million which is 14.29% higher than oil imports valued at US $ 17648.12 million in the corresponding period last year. Non-oil imports during April- March, 2003-2004 are estimated at US $ 55038.81 million which is 29.38% higher than the level of such imports valued at US $ 42540.41 million in April- March, 2002-2003.
Imports during March,2004 are valued at US $ 6927.58 million representing an increase of 17.61 % over the level of imports valued at US $ 5890.47 million in March, 2003. In Rupee terms the imports increased by 13.65% during March, 2004.
The trade deficit for April- March, 2003-2004 is estimated at US $13363.96 million which is higher than the deficit at US $ 7446.54 million during April- March, 2002-2003.
The high growth in exports is due to the good performance of our exports and the efforts to streamline data collection and the slight change in the method of reporting data by Customs which is now based on LEO (Let Export Order) basis instead of EGM (Export General Manifest). This will also be so in the future to avoid any pendency in data.
Tables giving details of exports, imports and trade balance, according to the provisional estimates of Directorate General of Commercial Intelligence & Statistics (DGCI&S) are attached.
Department of Commerce Economic Division
IMPORTS & EXPORTS : (PROVISIONAL)
(Unadjusted for late returns)
(US $ Million)
|
|
March |
April-March |
|
EXPORTS |
|
2002-2003* |
5151.37 |
52741.99 |
|
2003-2004 |
7308.55 |
61845.10 |
|
%Grw 2003-2004/2002-2003 |
41.88 |
17.26 |
|
IMPORTS |
|
2002-2003* |
5890.47 |
60188.53 |
|
2003-2004 |
6927.58 |
75209.06 |
|
%Grw 2003-2004/2002-2003 |
17.61 |
24.96 |
|
TRADE BALANCE |
|
2002-2003* |
-739.10 |
-7446.54 |
|
2003-2004 |
380.97 |
-13363.96 |
|
*Final figures as given by DGCI&S |
Department of Commerce Economic Division
IMPORTS & EXPORTS : (PROVISIONAL)
(Unadjusted for late returns)
(US $ Million)
|
|
March |
April-March |
|
EXPORTS |
|
2002-2003* |
24540.87 |
255137.29 |
|
2003-2004 |
32901.57 |
283604.52 |
|
%Grw 2003-2004/2002-2003 |
34.07 |
11.16 |
|
IMPORTS |
|
2002-2003* |
28061.92 |
291132.93 |
|
2003-2004 |
31891.90 |
346474.45 |
|
%Grw 2003-2004/2002-2003 |
13.65 |
19.01 |
|
TRADE BALANCE |
|
2002-2003* |
-3521.05 |
-35995.64 |
|
2003-2004 |
1009.67 |
-62869.93 |
|
*Final figures as given by DGCI&S |
SB/PM/MRS
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