India's April-September trade deficit zooms to $73.46 billion

India's trade deficit rose $18.56 billion to $73.46 billion at the end of September 2011 from $54.90 billion as of end-August 2011 as imports kept pace with the rise in exports.

The country's annual trade deficit grew, although at a slower pace year-on-year, to $73.461 billion in April-September 2011-12, against $71.119 billion during April-September 2010-11.

India exported goods and services worth $24.82 billion (Rs118,233.94 crore) in September 2011, which was up 36.36 per cent in dollar terms and 41.01 per cent higher in rupee terms compared to exports worth $18.20 billion (Rs83,848.35 crore) during September 2010.

Outbound shipments from the country, which showed an impressive year-on-year growth of over 36 per cent despite a slowdown in the US and Europe, was however, exceptional considering the county's dependence on western economies.

Cumulative value of exports during April-September 2011-12 was $160.05 billion (Rs723,431.51 crore) against $105.24 billion (Rs484,687.10 crore) - a growth of 52.08 per cent in dollar terms and a 49.26 per cent increase in rupee terms over the same period last year.

Imports into the country during September 2011 were valued at $34.59 billion (Rs164,759 crore), which was 17.20 per cent higher in dollar terms and up 21.20 per cent in rupee terms compared to imports valued at $29511.78 million (Rs135,936.00 crore) in September 2010.