Wednesday, October 26, 2005

India Trade deficit increases to 20.3 billion USD

The Hindu News Update Service

Mumbai, Oct. 25 (PTI): The demand of imports coupled with rising international crude oil prices has widened the overall trade deficit in the first half of the current fiscal to 20.3 billion US dollars from 11.9 billion USD a year ago, the Reserve Bank said today.

Imports rose by 33.1 per cent against increase of 37.3 per cent in the corresponding period last year due to demand emanating from the vibrant domestic industrial activity, the central bank said here in its mid-term review of the annual policy.

Exports during the first half of 2005-06 increased by 20.5 per cent in USD terms as compared with 30.8 per cent in the corresponding period of the previous year, the RBI said.

Merchandise exports growth of the country surpassed that of most of the Asian countries during this period, it added.


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