Ongoing Rupee appreciation continues to hit country’s export growth rate as exports grew by 26.82 per cent in November 2007 compared to 35 per cent recorded during October of same year.

Latest trade data released by the Commerce Ministry show exports during November, 2007 stood at $12.42 billion as compared to $9.79 billion in the same month in 2006. On the other hand exports during October 2007 stood at $13.3 billion posting a growth rate of 35 per cent.

Trade deficit

Cumulatively, export during the first eight months of the current fiscal—April to November, 2007—grew by 22.08 per cent to $98.38 billion as against $80.59 billion in the same period last year.  

Imports during November 2007 stood at $19.83 billion as against $15.34 billion in the same month in 2006 registering a growth rate of 29.26 per cnet. Cumulatively imports for the first eight months of current fiscal, April to November, 2007 stood at $151.19 billion compared to $119.07 billion in the same period of the previous fiscal posting a growth rate of 26.9 per cent.

Correspondingly, trade deficit for April-November  stood at $52.8 billion as compared to a $38.48 billion deficit last fiscal.