India's exports dip 15.9 % in January, imports also slip

India's exports during January this year were valued at $ 12.381 billion, 15.9 per cent lower than the figure of $ 14.717 billion registered during the same month last year, official data released today showed. This was the fourth consecutive month that the exports have fallen. The pace of decline has gone up and the bad news is coming at a time when the deepening recession in the United States, Europe and Japan is casting a gloom all around. India’s cumulative value of exports for the period April- January, 2008-09 was $ 144.266 billion (Rs.645572 crore) as against $ 127.454 billion (Rs.512945 crore), registering a growth of 13.2 per cent in dollar terms and 25.9 per cent in rupee terms over the same period last year. In rupee terms, exports touched Rs.60460 crore during January, which was 4.3 per cent higher than the value of exports during January, 2008. India’s imports during January were valued at US $ 18.455 billion, a decrease of 18.2 per cent over the level of $ 22.566 million in January, 2008. In rupee terms, imports increased by 1.4 per cent. The cumulative value of imports for the period April- January, 2008-09 was $ 243.358 billion (Rs.1090182 crore) as against $ 194.285 billion (Rs.782297 crore) registering a growth of 25.3 per cent in dollar terms and 39.4 per cent in rupee terms over the same period in the previous fiscal. Oil imports during January this year were valued at $ 4.463 billion which was 47.5 per cent lower than oil imports valued at $ 8.505 billion in the corresponding period last year. Oil imports during April- January, 2008-09 were valued at $ 83.290 billion which was 32.4 per cent higher than the oil imports of $ 62.926 billion in the corresponding period last year. Non-oil imports during January were estimated at $ 13.992 billion which was 0.5 per cent lower than non-oil imports of $ 14.061 billion in January last year. Non-oil imports during April- January, 2008-09 were valued at $ 160.068 billion which was 21.9 per cent higher than the level of such imports valued at $ 131.359 billion in the same period last year. The trade deficit for April- January, 2008-09 was estimated at $ 444.610 billion which was higher than the deficit at $ 269.352 billion during April- January of the last financial year. INT
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