July exports grow 18.5%
The country’s export growth may be on a recovery path after being dented badly by the rupee appreciation. Exports grew 18.52% in July 2007 compared to 14.05% in June, clocking a marginal improvement. It is, however, significantly lower than 40.67% registered in July 2006. In rupee terms, exports managed an improvement of only 3.10%.
The rupee has risen nearly 10% since late 2006, impacting revenue and profitability of export-oriented sectors such as IT and textiles.
Exports in July 2007 increased to $12.49 billion from $10.54 billion in the same month last year. Imports grew 20.40% to $17.50 billion in July 2007 against $14.54 billion year ago. In rupee terms, imports were up 4.74 %, according to the official trade data released on Monday.
