New Delhi, Jan 29: A massive 29.17 per cent increase in non-oil imports pushed the trade deficit in first nine months of 2003-04 by 88.3 per cent as compared to last year to 12.62 billion dollars despite buoyancy in exports.

In April-December 2003 exports grew 13.48 per cent as compared to the same period last year to touch 42.43 billion dollars while imports grew 24.86 per cent to 55.05 billion dollars.
While non-oil imports grew 29.17 per cent year-on-year to 40.46 billion dollars, oil imports grew 14.29 per cent over same period last year to touch 14.59 billion dollars.
In December 2003 exports grew a whopping 42.68 per cent year-on-year to touch 5.48 billion dollars while imports during the same month grew by 44.95 per cent to touch 7.2 billion dollars.
In rupee terms India's exports in first nine months of FY04 grew 7.73 per cent year-on-year to Rs 195784.11 crore while imports grew 18.57 per cent to Rs 254046.68 crore.
In December 2003 exports were up 35.11 per cent in rupee terms to Rs 25024.04 crore while imports were up 37.29 per cent.
The commerce ministry is confident of achieving 12 per cent growth in exports this year despite slow growth in the initial months of this fiscal.
Bureau Report