Imports were targeted to increase by 5.9 percent in 2007-08 to $ 32.3 billion
from last year’s level of $ 30.5 billion. Imports are up by 28.3 percent during
July-April 2007-08 – rising from $ 25.0 billion to $ 32.0 billion, showing an
increase of almost $ 7.0 billion. The growth in imports increased substantially
owing to unprecedented rise in oil and food prices.
• Major contributions to import bill have come from petroleum groups (40%).
raw material (21%) and food groups (16.3). Almost three-fourth contribution
came from three categories (petroleum, raw material and food group) to this
year’s rise in imports. Interestingly, consumer durables’ contribution was negative
(-0.4%) mainly on account of a decline in the import of road motor vehicles
which registered a decline of 8.6 percent.
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