March trade deficit rises to $10.5 billion from $8.13 billion as imports rise

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, April 11, 2014, 13:22 [IST]

Trade deficit for the month of March 2014 rose to $10.5 billion from $8.13 billion in the month of Feb 2014 on the back of a rise in imports.

Exports during March, 2014 were valued at US $ 29.57 billion which was 3.15 per cent lower in dollar terms

Imports during March, 2014 were valued at $ 40.08 billion representing a negative growth of 2.11 per cent in dollar terms and growth of 9.79 per cent in rupee terms over the level of imports valued at US $ 40.94 billion in March, 2013.

Non oil imports were placed at $24.03 billion, as against 27.39 billion acheived during March 2013.

The rupee was trading steady at 60.27 against the dollar, following release of trade data.

"Oil imports during March, 2014 were valued at US $ 15783.8 million which was 17.7 per cent higher than oil imports valued at US $ 13408.2 million in the corresponding period last year. Oil imports during April-March, 2013-14 were valued at US $ 167624.6 million which was 2.2 per cent higher than the oil imports of US $ 164040.6 million in the corresponding period last year," a government release stated.

The trade deficit for April-March, 2013-14 was estimated at US $ 138593.59 million which was lower than the deficit of US $ 190335.97 million during April-March, 2012-13.

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