Indian exports recorded an all time high growth of 34.30 per cent in December 2002 to achieve an overall growth of 20.36 per cent during the first three quarters this fiscal.

The latest trade data released here today said exports during December, 2002 was valued at $4.36 billion as against $3.25 billion during the same period in the previous year.    During April-December 2002, exports were put at $38.12 billion compared to $31.67 billion during the corresponding period in 2001.

The stepped up growth in exports had lowered the trade deficit during April-December, 2002 to $5.77 billion as against $6.64 billion during the corresponding period in 2001.

The country's imports also grew by 14.54 per cent in the first three quarters at $43.88 billion as against $38.31
billion in April-December, 2001.

The surge was mainly due to the rise in oil imports, which grew by 19.54 per cent during the period in the face of
firming up of crude oil prices amidst tension in the Gulf region.

Oil imports alone accounted for $12.84 billion during April-December, 2002 as against $10.74 billion in the corresponding period during the previous year.

The non-oil imports grew only by 12.59 per cent at $31.04 billion compared to $27.57 billion in the previous year.   

Just as in exports, the growth in imports during December was also more pronounced registering 24.37 per cent at $5.07 billion as against $4.08 billion during the same month in the previous year.

In rupee terms, export growth in April-December was more impressive at 23.38 per cent, while import growth was put at 17.47 per cent.