India's April-December 2011 trade deficit zooms to $ 133.3 bn

Jan 16, 2012 12:00 AM

India added $ 12.8 bn to its trade deficit in December 2011, taking the country's trade gap during the first nine months of the current financial year (April-December 2011-12) to $ 133.3 bn.
If the trend continues, the country may close the current fiscal with a trade deficit of nearly $ 175 bn.

India's imports grew to 37.8 bn in December 2011 while its exports stood at $ 25 bn during the month, commerce secretary Rahul Khullar said.
During April-December 2011-12, India's imports grew 30.4 % to $ 350.9 bn while its exports rose 25.8 % to $ 217.6 bn during the period, he said.

Engineering exports, which has been the mainstay of the country's export push during the early part of the current fiscal, saw a revival of fortunes, with a 21.6 % growth to $ 45.3 bn during the April-December 2011-12 period.
Export of petroleum and oil products rose the highest (55 %) to $ 43.9 bn while export of gems and jewellery recorded a growth of 38.5 % at $ 33.5 bn. Export of leather grew 25.8 % to $ 3.4 bn while drugs and pharmaceutical exports rose 21.5 % to $ 9.1 bn.

Export of cotton yarn and fabric made-ups from the country grew 13 % to $ 5.1 bn while electronics exports grew 21.1 % to $ 6.7 bn and export of readymade garments grew 23.7 % to $ 9.6 bn, according to preliminary figures released by the commerce ministry.
During April-December 2011-2012, India's coal imports grew the highest, at 62 %, to $ 12.5 bn, followed by imports of gold and silver, which grew 53.8 % to $ 45.5 bn.

Petroleum product imports rose 40.4 % to $ 105.6 bn, fertiliser imports rose 35 % to $ 8.2 bn, machinery imports rose 27.7 % to $ 25.8 bn and electronics imports rose 24 % to $ 25.2 bn.
Khullar said the figures are only rough estimates and the final figure is subject to change.

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