Mumbai: India''s exports continued to rise at an impressive pace, growing at 41.14 per cent year-on-year to touch $10.3 billion in August. Overall imports during the month were up 32.16 per cent year-on-year at $13.8 billion dollars, according to figures released by commerce ministry.

The surge in imports was, however, not enough to contain the ballooning trade deficit, which touched $3.4 billion. A large part of this deficit was due to rising oil import bill, which went up by 27.25 per cent to $5 billion.

Imports during April-August rose by $28.39 billion to $53 billion, taking the trade deficit in the first six months to $20.2 billion against $17.4 billion in the same period last year. Exports posted an overall growth rate of 34.48 per cent in this fiscal so far, taking the value of goods exported from India to $48 billion. India''s oil imports during the first five months of the current fiscal grew by 39.48 per cent to $23 billion from $16.9 billion in the same period last year.

Non-oil imports have so far grown at 8.76 per cent year-on-year to $44.7 billion as against $41.1 billion in same period last fiscal. Non-oil imports were up 4.37 per cent at $8.8 billion dollars in August.