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Exports dip in August as rupee appreciates
October 01, 2003 13:16 IST
India's exports maintained a growth momentum at nearly 9 per cent during April-August this fiscal but slowed down in the month of August at 4.19 per cent, apparently in the face of appreciating rupee value.
The cumulative exports in the first five months was put at $22.5 billion as against $20.6 billion last year, the latest monthly trade data released on Wednesday said.
In rupee terms, the exports growth was only 4.1 per cent during April-August and in August it recorded a negative growth of 1.5 per cent over the corresponding period in the previous year.
The trade deficit during April-August was put at $6.04 billion which was over two-and-half times of $2.7 billion in the corresponding period in 2002-03.