The trade deficit for April- December, 2007 was estimated at US $ 57821.31 million which was higher than the deficit at US $ 42852.20 million during April- December, 2006.

Exports during December, 2007 were valued at US $ 12314.97 million which was 16.04 per cent  higher than the level of US $ 10612.37 million during December, 2006. In rupee terms, exports touched Rs. 48569.64 crore, which was 2.54 per cent higher than the value of exports during December, 2006. Cumulative value of exports for the period April- December, 2007 was US$ 111049.70 million (Rs. 448377.33 crore) as against US$ 91202.56 million (Rs. 416175.56 crore) registering a growth of 21.76 per cent in Dollar terms and 7.74 per cent in Rupee terms during the same period last year.

Imports during December, 2007 were valued at US $ 17680.64 million representing an increase of 18.06 per cent over the level of imports valued at US $ 14976.53 million in December, 2006. In Rupee terms, imports increased by 4.31 per cent Cumulative value of imports for the period April- December, 2007 was US$ 168871.01 million (Rs. 682088.17 crore) as against US$ 134054.76 million (Rs. 611521.98 crore) registering a growth of 25.97 per cent in Dollar terms and 11.54 per cent in Rupee terms during the same period last year.

Oil imports during December, 2007 were valued at US $ 5962.62 million which was 23.78 per cent higher than oil imports valued at US $ 4817.29 million in the corresponding period last year.  Oil imports during April- December, 2007 were valued at US$ 49311.55 million which was 11.68 per cent higher than the oil imports of US$ 44156.20 million in the corresponding period last year.

 Non-oil imports during December, 2007 were estimated at US $ 11718.02 million which was  15.34 per cent higher than non-oil imports of US$ 10159.24 million in December, 2006. Non-oil imports during April- December, 2007 were valued at US$ 119559.46 million which was 32.99 per cent higher than the level of such imports valued at US$ 89898.56 million in April- December, 2006.

The trade deficit for April- December, 2007 was estimated at US $ 57821.31 million which was higher than the deficit at US $ 42852.20 million during April- December, 2006.

Jewellery exports rose 21.47 per cent in the six months ended September to reach US$9.73 billion compared with US$ 8.01 billion during the corresponding period last year.

Automobile exports grew by 17.13 per cent during April-September 2007 over the same period last year, with Two Wheelers growing by 22.98 per cent, Commercial Vehicles growing by 16.53 per cent and Three Wheelers by 11.59 per cent.

Software and services exports grew by 19.91 per cent to register revenues of US$ 8.44 billion during April-June 2007 as against US$ 7.03 billion during the corresponding period last year.

Foreign tourist earnings have increased by 25.2 per cent during January-September 2007 to touch US$ 5.55 billion compared to US$ 4.44 billion during corresponding period last year.

Continuing with the Government policy of integrating trade with the overall development of the Indian economy, the annual supplement 2007-08 to Foreign Trade Policy 2004-09 has introduced new incentives.

Focus Market schemes-aimed at promoting exports to certain countries by offsetting high freight cost and other externalities-has been expanded to include 16 more countries. The corpus of Focus Product scheme has been increased to US$ 242.8 million from US$ 157.8 million last fiscal. In a bid to encourage SEZs, developers and co-developers of these zones would be covered under duty refund schemes US$ 160 billion in the current financial year.

Some of the other highlights of the policy include extension of the export promotion capital goods (EPCG) scheme to spares and parts, introduction of flexibility in meeting export obligations under the EPCG scheme, expansion of the focus product and focus market schemes, extension of the popular Duty Entitlement Passbook (DEPB) scheme for a year and a change in the categorization of status holders among others.