India's cumulative value of exports for the period April- December, 2008 was US$ 131990 million (Rs.585594 crore) as against US$ 112737 million (Rs. 454997) registering a growth of 17.1 per cent in Dollar terms and 28.7 per cent in Rupee terms over the same period last year. Exports during December, 2008 were valued at US $ 12690 million which was 1.1 per cent lower than the level of US $ 12825 million during December, 2007. In rupee terms, exports touched Rs. 61715 crore, which was 22 per cent higher than the value of exports during December, 2007.

India's Imports during December, 2008 were valued at US $ 20256 million representing an increase of 8.8 per cent over the level of imports valued at US $ 18610 million in December, 2007. In Rupee terms, imports increased by 34.2 per cent. Cumulative value of imports for the period April- December, 2008 was US$ 225809  million (Rs. 1003947 crore) as against US$ 171718 million (Rs. 693445 crore) registering a growth of 31.5 per cent in Dollar terms and 44.8 per cent in Rupee terms over the same period last year.

Oil imports during December, 2008 were valued at US $ 4712 million which was 30.9 per cent lower than oil imports valued at US $ 6824 million in the corresponding period last year.  Oil imports during April- December, 2008 were valued at US$ 78827 million which was 44.8 per cent higher than the oil imports of US$ 54421 million in the corresponding period last year.

Non-oil imports during December, 2008 were estimated at US $ 15544 million which was 31.9 per cent higher than non-oil imports of US$ 11786 million in December, 2007. Non-oil imports during April- December, 2008 were valued at US$ 146982 million which was 25.3 per cent higher than the level of such imports valued at US$ 117297 million in April- December, 2007.

The trade deficit for April- December, 2008 was estimated at US $ 93819 million which was higher than the deficit at US $ 58981 million during April- December, 2007.

Trade deficit widened as imports outpaced exports, notably increasing external imbalance during the April-December period. Exports fell 1.1% in December but rose 17.1% cumulatively for April-December in dollar terms; imports rose for December and cumulatively, driving a substantially larger trade deficit for April-December. The release reports values and percentage changes in both US dollars and rupees, separates oil and non oil import movements, and labels 2008-09 figures as provisional while 2007-08 figures are revised.