March 2, 2009
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Trade deficit widens as cumulative imports outpace exports, driven by divergent oil and non oil import trends.
India's exports for April-January 2008-09 increased year on year in both Dollar and Rupee terms despite a Dollar valued decline in January; imports fell in January in Dollar terms but rose cumulatively in both currencies. January oil imports declined markedly year on year while cumulative oil imports rose; cumulative non oil imports also increased. The faster cumulative growth of imports relative to exports widened the provisional trade deficit for April-January 2008-09 compared with the prior year.