The exports achieved a high growth rate for the third month of the current fiscal in succession, though it was lower than the 30.04 per cent increase posted in April and the 30.23 per cent recorded in May over the same months last year. The growth recorded in June 1999 over June 1998 was only 11.14 per cent.

The exports in June 2000 were valued at $ 3325.71 million against $ 2607.36 million in June 1999, according to provisional foreign trade data released by the commerce ministry on Tuesday.

The data shows that exports during April-June 2000 were estimatd at $ 10194.34 million against $ 7986.28 million during April-June 1999. The imports during June 2000 at 4124.05 million were 13.27 per cent higher than the $ 3640.78 million in June last year.

Cumulatively, imports during April-June 2000 increased to 13177.09 million from $ 10355.66 million during the same period of 1999. Oil imports were valued at $ 3935.41 million which was 94.26 per cent higher than those valued at $ 2025.83 million in April-June 1999. Non-oil imports during the same period rose by 10.95 per cent, from $ 8329.83 million to $ 9241.68 million.

The trade deficit in April-June 1999 at $ 2982.75 million was higher than the figure of $ 2369.37 million in April-June 1999.

If the high growth seen in the first quarter is maintained in the remaining period of the current ficsal, the target set at 18 per cent will certainly be achieved and even exceeded.

The country achieved an impressive export performance in 1999-2000 by clocking a 11.58 per cent growth exceeding the target of 11.3 per cent. This was in sharp contrast to the rather poor showing in the preceding two years of the Ninth Plan.