Weakening global economies have dampened India's export growth to its slowest rate since April 2007, clocking a growth of 10.4 per cent in September while imports continued to rise by a robust of over 43 per cent.

Outward shipments, which rose by 27 per cent in August, saw growth plunging to 10.4 per cent in September as the world bought less of Indian goods. Exports for September totalled US$13.74 billion, according to official data.

India?s imports during September 2008 were valued at $24.38 billion representing an increase of 43.3 per cent over the level of imports valued at $17 billion in September 2007.

In rupee terms, imports increased by 61.9 per cent. Cumulative value of imports for the period April-September 2008 was 6.61 trillion rupees as against 4.56 trillion rupees registering a growth of 38.6 per cent in dollar terms and 44.9 per cent in rupee terms over the corresponding period last year.

Oil imports during September 2008 were valued at $9.09 billion which was 57.1 per cent higher than oil imports valued at $5.79 billion in the corresponding period last year. Oil imports during April-September 2008 were valued at $55.06 billion, which was 59.2 per cent higher than the oil imports of $34.59 billion in the corresponding period last year.

Non-oil imports during September 2008 were estimated at $15.28 billion, which was 36.2 per cent higher than non-oil imports of $11.21 billion in September 2007. Non-oil imports during April-September 2008 were valued at $99.68 billion, which was 29.3 per cent higher than the level of such imports valued at $77.06 billion in April-September 2007.

The trade deficit for April-September 2008 was estimated at $59.77 billion, which was higher than the deficit at $39.09 billion during April-September 2007.