Country’s exports expanded by an impressive 35.25 per cent in February this year to 14.23 billion dollars despite exporters facing erosion in their competitiveness due to increase in rupee value.

Exports for the April-February 11-month period posted a growth of 22.9 per cent to 138.42 billion dollars, latest trade data show.

Imports in February went up by 30.53 per cent to 18.46 billion dollars. The cumulative imports for April-February period were 210.89 billion dollars showing a growth of 30.21 per cent. 

Trade deficit

The 11-month trade deficit was placed at 72.46 billion dollars as against 49.32 billion dollars in the corresponding period in the previous fiscal. 

While exports showed a huge growth in dollars terms in February, the increase in rupee terms was 21.71 per cent. Imports in rupee terms showed a growth of 17.45 per cent in February.

The rupee has strengthened by over 10 per cent in the last one year, eroding exporters’ margins. The trade data show that oil imports during February, 2008 were valued at 6272.18 million dollars which was 39.52 per cent higher than oil imports valued at 4495.64 million dollars in the corresponding period last year. 

Oil imports during April- February, 2008 were valued at 66013.49 million dollars which was 26.81 per cent higher than the oil imports of  52056.95 million dollars in the corresponding period last year. 

Non-oil imports during February this year were estimated at 12194.27 million dollars which was 26.35 per cent higher than non-oil imports of  9651.19 million dollars in the same month last year.

Non-oil imports during April- February, 2008 were valued at 144881.50 million dollars which was 31.83 per cent higher than the level of such imports valued at 109902.57 million dollars in the corresponding period of the previous fiscal.