India's trade deficit widens despite rising exports
02 Sep 2011
India' trade deficit rose to an estimated $42.692 billion in the first four months of the current financial year (April-July 2011-12), up $5.173 billion (13.78 per cent) from the deficit of $37.519 billion during April-July 2010-11, despite continued rise in the country's exports.
Exports from the country stood at $29.344 billion (Rs130,338.54 crore) during July 2011, up 81.79 per cent in dollar terms and 72.40 per cent higher in rupee terms compared with exports of $16.142 billion (Rs75,603.11 crore) during July 2010.
Cumulative value of exports during April-July 2011-12 stood at $108.348 billion (Rs483,677.41 crore) against $70.364 billion (Rs323,184.79 crore) - a growth of 53.98 per cent in dollar terms and a 49.66 per cent increase in rupee terms year-on-year.
Imports during July 2011 were valued at $40.426 billion (Rs179,561.00 crore), representing a growth of 51.52 per cent in dollar terms and 43.69 per cent rise in rupee terms compared with imports worth $26.681 billion (Rs124,966.83 crore) in July 2010.
Cumulative imports for the period April-July 2011-12 stood at $151.040 billion (Rs674,324.07 crore) against $107.884 billion (Rs495,148.95 crore) - a growth of 40 per cent in dollar terms and a 36.19 per cent rise in rupee value.
Import of crude oil, the single largest item of imports into the country, stood at $11.445 billion, a 37.02 per cent increase from oil imports valued at $8.353 billion in the corresponding period last year.
