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India added $12.8 billion 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 billion. If the trend continues, the country may close the current fiscal with a trade deficit of nearly $175 billion. India's imports grew to 37.8 billion in December 2011 while its exports stood at $25 billion during the month, commerce secretary Rahul Khullar said today. During April-December 2011-12, India's imports grew 30.4 per cent to $350.9 billion while its exports rose 25.8 per cent to $217.6 billion 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 per cent growth to $45.3 billion during the April-December 2011-12 period. Export of petroleum and oil products rose the highest (55 per cent) to $43.9 billion while export of gems and jewellery recorded a growth of 38.5 per cent at $33.5 billion. Export of leather grew 25.8 per cent to $3.4 billion while drugs and pharmaceutical exports rose 21.5 per cent to $9.1 billion. Export of cotton yarn and fabric made-ups from the country grew 13 per cent to $5.1 billion while electronics exports grew 21.1 per cent to $6.7 billion and export of readymade garments grew 23.7 per cent to $9.6 billion, according to preliminary figures released by the commerce ministry. During April-December 2011-2012, India's coal imports grew the highest, at 62 per cent, to $12.5 billion, followed by imports of gold and silver, which grew 53.8 per cent to $45.5 billion while petroleum product imports rose 40.4 per cent to $105.6 billion, fertiliser imports rose 35 per cent to $8.2 billion, machinery imports rose 27.7 per cent to $25.8 billion and electronics imports rose 24 per cent to 25.2 billion. Khullar said the figures are only rough estimates and the final figure is subject to change.
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