The adverse effect of rising rupee on country’s trade is already visible with exports growth slowing down to 18.07 per cent in May this year compared to 23.06 per cent growth rate in April.

On the other hand imports rose by 26.36 per cent leaving a trade deficit of $6.21 billion in May this year, latest trade data released here show. Consequently, trade deficit for April-May, 2007 was estimated at $13,276.75 million which was higher than the deficit at $8,201.79 million during April-May, 2006.

Cumulative value
As far as cumulative value of country’s merchandise exports for the period April-May this year is concerned the figure stood at $22.4 billion compared to $18.6 billion in the corresponding period of the previous fiscal registering an increase of 20.37 per cent.

Merchandise exports during May, 2007 were valued at $11861.28 million, which was 18.07 per cent higher than the level of $10045.99 million during May, 2006. In rupee terms, exports touched Rs 48,371.98 crore, which was 6.04 per cent higher than the value of exports during May, 2006. Country’s imports during May, 2007 were valued at $1,80,77.81 million representing an increase of 26.36 per cent over the level of imports valued at $14,306.76 million in same month last year.

In rupee terms, imports increased by 13.49 per cent. Cumulative value of imports for the period April-May, 2007 was $35713.14 million (Rs 1,48,053.58 crore) as against $26,841.29 million (Rs 1,21,304.73 crore) during same period last year.

Oil imports during May, 2007 were valued at $4,740.29 million which was 2.99 per cent lower than oil imports valued at $4,886.44 million in the corresponding period last year. Oil imports during April-May, 2007 were valued at $9,165.20 million which was 1.01 per cent higher than the oil imports of $9,073.62 million in the corresponding period last year.

Non-oil imports during May, 2007 were estimated at $13,337.52 million which was 41.58 per cent higher than growth on non oil imports of $9,420.32 million in May, 2006. Non-oil imports during April-May, 2007 were valued at $26,547.94 million which was 49.42 per cent higher than the level of such imports valued at $17,767.67 million in April-May, 2006.