India’s exports fall nearly 10 per cent to $22.3 billion in August

India's exports fell 9.7 per cent to $22.3 billion in August while imports fell about 5.08 percent to $38 billion, leaving a trade deficit of $15.7 billion, provisional figures released today showed.

India's exports declined by 9.7 per cent in August 2012 to $22.3 billion, compared with August 2011 exports valued at $24.7 billion. Imports into the country also registered a decline of 5.08 per cent at $38 billion, against imports worth $40 billion in the year-ago period.

Trade deficit during August 2012, however, was higher at $15.7 billion against a trade deficit of $15.3 billion in August 2011.

Cumulative exports for April-August 2012 stood lower at $120 billion against exports worth $127.6 billion in April- August 2011. Cumulative imports for April-August 2012 stood at $191.1 billion against $203.8 billion in April-August 2011.

Trade deficit for the first five months of the current fiscal, however, was lower at $71.1 billion against $76.2 billion in April- August 2011.

During August 2012, India exported engineering goods valued at around $4.6 billion, petroleum products worth $4 billion, gems and jewellery valued at $3.4 billion, drugs and pharmaceuticals worth $1.2 billion and readymade garments of a value of around $0.9 billion.

Imports during August 2012 comprised crude petroleum valued at $12.8 billion (this accounted for more than a third of the month's total imports), gold and silver valued at $2.6 billion, machinery worth $2.67 billion, electronic goods valued at $2.62 billion and coal, coke etc worth $1.7 billion.

Releasing the trade figures during a media interaction, commerce secretary S R Rao and DGFT Anup K Pujari said the figures are provisional and are subject to change.
 
India's exports had declined by 14.8 per cent year-on-year to $22.4 billion in July 2012, while its imports had declined at a lower pace of 7.6 per cent to $37.9 billion during the month.