India's Feb exports up 4.3% at $24 bn; trade deficit widens to $15.2bn

Posted By: Religare
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India's Feb exports up 4.3% at $24 bn
Exports of Asia's third largest economy grew by 4.3 per cent during the month of February 2012 at USD 24.6 billion, even as the global economic conditions continued to remain in turmoil.

However, the picture remained gloomy as imports during the month rose by 20.6 per cent to USD 39.8 billion, thus shooting up the trade deficit to USD 15.2 billion for the February 2012 month, said Commerce Secretary Rahul Khullar.

During the April-February 2011-12 period, exports rose by 21.4 per cent to USD 267.4 billion, while imports grew by 29.4 per cent to USD 434.2 billion during the 11 months period, increasing the fical deficit to USD 166.8 billion.

Meanwhile, Khullar added that the exports for the fiscal would be around USD 292-298 billion, within a striking distance of the USD 300 billion target.

However, imports for 2011-12 could go up to USD 470-475 billion, taking the trade deficit to a record USD 175-180 billion, added Khullar.

Read more about: exports, imports, trade, economy
Story first published: Friday, March 9, 2012, 23:31 [IST]
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