Last updated 0100 hrs IST, Wednesday, May 02, 2001
ECONOMY Export growth up 19.8% in 2000-01 Our Economy Bureau in New Delhi India has surpassed the export growth target of 18 per cent for 2000-01 by logging $44.1 billion exports, up 19.81 per cent over the previous year. According to the provisional trade data, released by the commerce ministry today, exports during March 2001 are estimated at $4.28 billion compared to $3.86 billion during the same month last year, an increase of 10.88 per cent. The exports growth, which slowed down during the last two months of 2000-01, hovering at just over 10 per cent pulled down the annual growth rate. For the 10-month period till January, exports had witnessed a growth of over 20 per cent over the corresponding period previous year. However, during March 2001, imports continued with the negative trend registering a 11.70 per cent decrease to $4.30 billion compared to $4.87 billion during the same month in 2000. At $49.84 billion, imports during the fiscal was 0.26 per cent higher than $49.71 billion during 1999-2000. Non-oil imports are estimated at $34.19 billion during 2000-01, down 14.66 per cent as against $40.06 billion during the previous fiscal. During 2000-01, oil imports, however, witnessed a steep rise to $15.65 billion, a 62.29 per cent rise over the oil import bill of $9.64 billion during 1999-2000. The impressive growth in exports coupled with a nominal increase in imports helped pull down the trade deficit to $5.74 billion during the last fiscal as against $12.90 billion during April-March 1999-2000. The sharp decrease in trade deficit has helped in curbing the rising trend which had increased from $5.66 billion in 1996-97 to $12.90 billion during 1999-2000. Final data for 1999-2000 also reveals a variation with the provisional trade deficit which had been estimated at $9.61 billion. According to today's data, exports during 1999-2000 are estimated at $36.80 billion compared to $37.60 billion (the provisional figures). Imports during the same period have now been revised to $49.71 billion compared to the earlier $47.21 billion.
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