Export rate dips 9.74% in August
According to fresh business news, it is said that the export rate in the month of August had dipped by 9.74% year-on-year to $22.3 billion and the basic reason in the fall is the global economic slowdown.
As per the figures released, it is said that from April-August, the shipment fell 5.96% to $119.97 billion as compared to $127.5 billion in the same period of 2011.
Further, imports in the same month also fell 5.08% to $37.9 billion, leaving a trade deficit of $15.7 billion.
In the first five months of this financial year, imports dropped by 6.2% to $191.1 billion and the trade fell ay $71 billion in the same period.
On the other hand, oil imports in August were jumped by 2.96% higher at $12.88 billion as against $12.51 billion in the same period of the last year.
However, oil imports during April-August recorded $66.7 billion, a growth of around 2.80% as compared to $64.88 billion in the corresponding period last year.
For the meantime, non-oil imports in the last month was recorded at $25.1 million, drop of 8.74% compared to 2011.
Non-oil imports during April-August, kept steady at $124.46 billion, 10.41% less as against last year when it recorded at $138.92 billion.