India’s April-November trade deficit zooms to $129.5 billion

India's current account deficit rose to $129.5 billion during the first eight months of the current financial year ended 30 December 2012-13, hit by a $19.29 billion trade deficit in November 2012 alone.

The country had registered a trade deficit of $122.64 billion during April-November 2011-12.

India exported goods and services valued at $22.30 billion (Rs1,22,148.03 crore) during November 2012, which shows a 4.17 per cent decline in dollar terms and a 3.22 per cent gain in rupee terms compared to the level of $23.27 billion (Rs1,18,341.35 crore) during November 2011.

Cumulative exports for the April-November 2012 -13 period stood at $189.22 billion (Rs10,30,488.22 crore) against $201.19 billion (Rs9,33,049.70 crore) - a negative growth of (-)5.95 per cent in dollar terms and a growth of 10.44 per cent in rupee terms year-on-year.

The country's imports during November 2012 were valued at $41.59 billion (Rs2,27,795.59 crore), which showed a gain of 6.35 per cent in dollar terms and a 14.55-per cent increase in rupee terms over the level of imports valued at $39.10 billion (Rs1,98,861.13 crore) in November 2011.

Cumulative imports for April-November 2012-13 stood at $318.72 billion (Rs17,34,998.17 crore) against $323.82 billion (Rs15,03,492.73 crore), which showed a negative growth of (-) 1.58 per cent in dollar terms and a growth of 15.40 per cent in rupee terms over the same period last year.