Mumbai:
India''s exports continued to rise at an impressive
pace, growing at 41.14 per cent year-on-year to touch
$10.3 billion in August. Overall imports during the month
were up 32.16 per cent year-on-year at $13.8 billion dollars,
according to figures released by commerce ministry.
The
surge in imports was, however, not enough to contain the
ballooning trade deficit, which touched $3.4 billion.
A large part of this deficit was due to rising oil import
bill, which went up by 27.25 per cent to $5 billion.
Imports
during April-August rose by $28.39 billion to $53 billion,
taking the trade deficit in the first six months to $20.2
billion against $17.4 billion in the same period last
year.
Exports posted an overall growth rate of 34.48 per cent
in this fiscal so far, taking the value of goods exported
from India to $48 billion.
India''s oil imports during the first five months of the
current fiscal grew by 39.48 per cent to $23 billion from
$16.9 billion in the same period last year.
Non-oil
imports have so far grown at 8.76 per cent year-on-year
to $44.7 billion as against $41.1 billion in same period
last fiscal. Non-oil imports were up 4.37 per cent at
$8.8 billion dollars in August.
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