Monday, November 29, 1999

Exports soar 54% in March to $19.9bn

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Merchandise exports grew by a healthy 54.1 per cent in March for the fifth month in a row, to USD 19.9 billion against USD 12.91 billion in the same period last year, mainly on account of low base.The value of exports for the entire 2009-10 fiscal, however, declined by 4.7 per cent to USD 176.5 billion as demand from traditional markets in the West had dried up during the global economic slowdown.Imports in March too jumped by a robust 67.1 per cent to USD 27.73 billion from USD 16.59 billion over the year ago period, an official release said here today.During the April-March period, imports dipped by 8.2 per cent to USD 278.7 billion from the previous fiscal's USD 303.7 billion. As a result, trade deficit also shrunk to USD 102 billion from USD118 billion.Crude oil imports in March grew by 85.2 per cent to USD 7.73 billion over the year ago period. In March 2009, the oil import was USD 4.17 billion.Non-oil imports too went up by 61 per cent to USD 20 billion in the month under review from USD 12.42 last year.During the 2009-10 fiscal, oil imports declined by 8.7 per cent to USD 85.47 billion from USD 93.66 billion year on year. Non-oil imports dipped by 8 per cent to USD 193.20 billion from 210 billion in April-March 2008-09.

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