India’s April-September trade deficit tops $89 billion

India added $18.08 billion in trade deficit for September 2012, pushing its current account deficit for April-September 2012-13 to $89.25 billion from $71.17 billion in April-August 2012-13.

The trade deficit for the first six months of the current financial year was, however, marginally lower than the deficit of $89.40 billion during April-September 2011-12, data released by the commerce ministry showed.

India imported goods and services worth an estimated $41.78 billion (Rs2,28,134.59 crore) in September 2012 while the country's exports during the month stood at $23.70 billion (Rs1,29,405.75 crore), raising the country's current account deficit for the year so far by around $18.08 billion to $89.25 billion.

India's imports during September 2012 were valued at $41.78 billion (Rs2,28,134.59 crore), showing a growth of 5.09 per cent in dollar terms and 20.47 per cent in rupee terms compared to imports worth $39.76 billion (Rs1,89,372.08 crore) in September 2011.

Cumulative value of imports for the period April-September 2012-13 was $232.93 billion (Rs12,72,792.65 crore) against $243.55 billion (Rs11,01,811.90 crore), which represented a negative growth of 4.36 per cent in dollar terms and a growth of 15.52 per cent in rupee terms over the same period last year.

Exports from the country during September 2012 were valued at $23.70 billion (Rs1,29,405.75 crore), which was 10.78 per cent lower in dollar terms  and 2.28 per cent higher in rupee terms compared to exports valued at $26.56 billion (Rs1,26,520.28 crore) during September 2011.