Cheers! We Are Exporting More2011-10-03T15:28:49Z
India’s exports maintained their growth momentum in August, 2011, rising by 44.2 per cent year-on-year to $ 24.3 billion despite the economic woes in traditional Western markets, according to data released by the Commerce Ministry on Monday.
Imports, too, grew by 41.8 per cent to $38.4 billion in August, translating into a trade deficit of $14 billion during the month, as per the data.
During the April-August period, India’s exports grew by 54.2 per cent to $134.5 billion, the data shows.
In the April-August period, imports expanded by 40.4 per cent to $189.4 billion. The trade gap during the period amounted stood at $54.9 billion, the Commerce Ministry data shows.
Oil imports during August, 2011, were valued at $10.3 billion, translating into a growth of 48.7 per cent compared to the corresponding period last fiscal, while non-oil imports rose to $ 28 billion, an expansion of 39.4 per cent vis-à-vis the same month of 2010-11.
The data also shows that oil imports during the April-August, 2011, period stood at $52.3 billion and non-oil imports during the five-month period amounted to $137 billion. PTI