India's trade deficit nearly doubles in Q1FY07

New Delhi, Aug 1: India's trade deficit for the first quarter (April-June) 2007 was estimated at 20,605.33 million dollars, as against the deficit of Rs 11,841.15 million dollars in 2006, government data released said today.

India's exports for the first quarter of the current fiscal went up to 34303.50 million dollars (Rs 141330.65 crore) as against 29044.58 million dollars (Rs 132164.90 crore) during the same period last year.

Exports at 1186.71 million dollars in June went up by 14.05 per cent from 10405.07 million dollars during the corresponing month of 2006. However, in Rupee terms, exports touched Rs 48,386.49 crore, which was just 0.97 per cent higher than the value of exports in June, 2006.

India's imports for the first quarter of current fiscal was 54,908.83 million dollars (Rs 226321.35 crore) as against 40,885.73 million dollars (Rs 185987.92 crore) during the same period last year, the data said.

In June-2007, imports increased by 36.86 per cent to 19,195.69 million dollars from 14,044.43 million dollars in June-2006. In Rupee terms, imports, however, increased by 21 per cent, the decline in percentage is on account of nine per cent appreciation in value of the Rupee vis-a-vis dollar in the last few months.

Oil imports during the first quarter 2007 were valued at 14,830.19 million dollars which was 4.21 per cent higher than the oil imports worth 14,230.81 million dollars in the corresponding period last year.

Oil imports in June 2007 were valued at 5,664.99 million dollars which was 9.85 per cent higher than oil imports valued at 5,157.19 million dollars in the corresponding period last year.

Non-oil imports during April-June, 2007 were valued at 40,078.64 million dollars which was 50.36 per cent higher than the level of such imports valued at 26,654.92 million dollars in April-June, 2006. In June 2007, such imports were estimated at 13,530.70 million dollars which was 52.25 per cent higher than growth on non-oil imports of 8887.25 million dollars in June, 2006, according to the Directorate General of Commercial Intelligence&Statistics (DGCI&S).

UNI