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Approval to Posco SEZ in Orissa
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02. TRADE AND ECONOMY |
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Exports
up by record 34 percent |
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India’s
merchandise exports during August, 2006 are valued at US$10381.16
($10.3 billion) million which is 41.14 percent higher than the level
of US$7354.98 million during August, 2005. In rupee terms, the exports
were Rs.48310.80 crores which is 50.57 percent higher than the level
of Rs.32085.72 crores (provisional) during August 2005. |
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Exports cumulatively
during April-August, 2006 are valued at US$48088.76 ($48 billion)million
which is 34.48 percent higher than the level of US$35759.90million
during April-August, 2005. In rupee terms, the exports were
Rs.220853.33 cores during April-August, 2006 which is 41.67
percent higher than the level of Rs.155889.61 crores (provisional)
during April-August, 2005.
India’s imports during August, 2006 are valued at US$13869.88million
representing an increase of 32.16 percent over the level of
imports valued at US$10494.86million in August, 2005. In Rupee
terms, the imports were Rs.64546.27 crores which is 40.98 percent
higher than
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the level of Rs.45783.30
crores (provisional) during August 2005.
Total imports during April-August, 2006 are valued at US$68294.22
million which is 28.39 percent higher than the level of US$53191.14
million during April-August 2005. In rupee terms, the imports
were Rs.313472.15 crores which is 35.2 percent higher than the
level of Rs.231865.88 crores (provisional) during April- August
2005.
Oil imports during August 2006 are valued at US$5038.96 million
which is 27.25 percent higher than oil imports valued at US$3959.93
million in the corresponding period last year. |
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Oil imports during
April-August 2006 are valued at US$23572.50 million which is
39.48 percent higher than oil imports valued at US$16900.07
million in the corresponding period last year. Non-oil imports
during August 2006 are estimated at US$8830.92 million which
is 4.37 percent higher than the level of such imports valued
at US$8460.98 million in August 2005. Non-oil imports during
April-August, 2006 are estimated at US$44721.73 million which
is 8.76 percent higher than the level of such imports valued
at US$41119.60 million in April- August 2005.
The trade deficit for April-August, 2006 is estimated at US$20205.46
million which is higher than the deficit of US$17431.24 million
during April-August, 2005. |
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STC earns record
profit |
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The State Trading
Corporation of India Ltd. (STC), a public sector undertaking
under the Ministry of Commerce & Industry, has achieved
an all time high net profit (post tax) of Rs.39 crore
during 2005-06 as per the annual audited accounts of the
Corporation adopted by the shareholders at the 50th Annual
General Meeting here today. |
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The highest
profitability was the outcome of a deliberate shift
of focus from items yielding higher turnover to
the ones generating greater trading margins and
various diversification plans adopted by the Corporation.
As a result, all the three segments of trade viz.
exports, imports and domestic sales registered significant
growths in trading margins. In view of substantial
increase in profitability, the Corporation declared
a final dividend of 35 percent for 2005-06 in addition
to 15 percent interim dividend already paid. |
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Thus,
for 2005-06, the Corporation has paidthe highest
ever dividend of 50 percent in its history.
During the year, STC also recorded a handsome growth
of over 90 percent in its exports which zoomed to
Rs.1095 crore from Rs.568 crore a year ago. registering
a growth of 70 percent over 2004-05. Besides, the
Corporation also diversified into exports of gold
jewellery on a modest scale.
On the import front, hydrocarbons, minerals and
metals registered the top growth of 45 percent during |
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2005-06,
as a deliberate step, bullion imports were systematically
brought down in view very low margins on such imports.
This led to increase in the non-bullion imports
from 32 percent in 2004-05 to 58 percent in 2005-06
in the overall imports.
Other major items of imports were edible oils, petro-chemicals,
vanaspati, pulses, etc.
The Corporation also effected domestic sales amounting
to Rs.537 crore during the year comprising mainly
of petro-chemicals, minerals & metals and pulses. |
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Import of sensitive
items up |
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Imports of sensitive
items from Indonesia, Argentina, United States of America,
China P RP, Sri Lanka DSR, Cote D’ Ivory, Germany,
Japan, Australia, Afghanistan TIS etc. have gone up while
those from Malaysia, Brazil, Egypt A RP, Benin, Vietnam
Soc Rep have shown a decrease.
The total import of sensitive items for the period April-May
2006 has been Rs.2792 crores as compared to Rs.2524 crores
during the corresponding period last year thereby showing
an increase of 10.6 percent. The gross import of all commodities
during same period of current year was Rs.116523 crores
as compared to Rs.91595 crores during the same period
of last year. Thus import of sensitive items constitutes
2.8 percent and 2.4 percent of the gross imports during
last year and current year respectively.
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