India’s exports grow 3% in April, Oil imports close to $14 billion

Exports nudged up 3.23% in April, reaching $24.46 billion, while imports too grew 3.83% to $37.94 billion.

Exports in April were valued at US$ 24455.38 million (Rs. 126708.46 crore) which was 3.23 per cent higher in Dollar terms (20.54 per cent higher in Rupee terms) than the level of US$ 23690.37 million (Rs. 105114.17 crore) during April, 2011.

Imports during April, 2012 were valued at US$ 37941.70 million (Rs. 196583.90 crore) representing a growth of 3.83 per cent in Dollar terms (21.25 per cent in Rupee terms) over the level of imports valued at US$ 36540.75 million (Rs. 162131.31 crore) in April, 2011.

Oil imports during April, 2012 were valued at US$ 13909.2 million which was 6.96 per cent higher than oil imports valued at US$ 13004.0 million in the corresponding period last year.

India’s oil bill was about $8 billion in February last year. It was just $3.6 billion in April 2009. Even during the height of the oil bubble in July 2008, it was only $12.7 billion.

Non-oil imports during April, 2012 were estimated at US$ 24032.5 million which was 2.11 per cent higher than non-oil imports of US$ 23536.7 million in April, 2011.

The trade deficit for April, 2012 was estimated at US$ 13486.32 million which was higher than the deficit of US$ 12850.38 million during April, 2011.