India registers $10 billion trade deficit in April

India registered a trade deficit of $10.08 billion for April 2014, the first month of the current financial year against a trade deficit of $17.67 billion in April 2013.

The decline in trade deficit has been due mainly to a continued fall in gold imports during the month. Gold imports were down 74 per cent at $1.75 billion against imports of $6.8 billion in April 2013.

Overall imports of goods and services dipped 15 per cent to $36 billion in April, leaving a trade deficit of $10 billion, according to official data released on Friday.

The country exported goods and services valued at $25.63 billion (Rs.154,718.60 crore) during April 2014, which was 5.26 per cent higher in dollar terms and 6.83 per cent higher in rupee terms compared to exports valued at $24.35 billion (Rs132,425.33 crore) during April 2013.

Imports during April 2014 were valued at $35.72 billion (Rs215,593.93 crore), which showed a negative growth of 15 per cent in dollar terms and a negative growth of 5.66 per cent in rupee terms over the level of imports valued at $42.03 billion (Rs228,518.59 crore) in April 2013.

Import of crude oil during April 2014 were valued at $12.98 billion, which was 0.6  per cent lower than oil imports valued at $13.05 billion in the corresponding period last year.

Non-oil imports during April 2014 were estimated at $22.74 billion, which was 21.5 per cent lower than non-oil imports of $28.97 billion in April 2013.