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Exports expand 36.2 percent in April: Govt

The economic crisis-worn exports sector posted a staggering 36.2 per cent growth in April to USD 16.9 billion, but the government tempered the euphoria saying growth appeared large due to last year`s poor showing.



New Delhi: The economic crisis-worn exports sector posted a staggering 36.2 per cent growth in April to USD 16.9 billion, but the government tempered the euphoria saying growth appeared large due to last year`s poor showing.

Last April, exports had shrunk nearly 30 per cent to USD
12.4 billion in line with a nine per cent contraction in
global trade as a result of a worldwide financial crisis.

India`s exports contracted for 13 straight months
starting October 2008, before turning positive in November`09.

Barring food grains and handicrafts, all other sectors
such as textiles, gems and jewellery and marine products
performed well in April.

"Don`t get carried away by these numbers... because base
was low and that`s why you have an increase in percentage
terms. You are still running below the export level in April
2008-09," Commerce Secretary Rahul Khullar told reporters
here today.

Low base effect makes even a nominal increase now appear
large because the numbers in the year-ago comparable period
were too low.

Imports too increased in April by 43.3 per cent to USD
27.3 billion from USD 19.1 billion a year ago. Trade deficit
for April was USD 10.4 billion against USD 6.7 billion in the
year-ago period.

Oil imports increased to USD 8.1 billion against USD 4.7
billion in April last year.

PTI

From Zee News

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