India's exports grow 36 per cent in April; imports vault 43 per cent
19 May 2010
Export of goods and services from the country rose 36.2 per cent year-on-year, in April 2010, to $16.9 billion even as imports into the country vaulted 43.3 per cent to $27.3 billion.
The country's trade deficit stood at $10.4 billion against $6.7 billion in the year-ago period.
The high growth rate in exports, however, has been due to a very low base effect as the country's exports had plummeted 30 per cent year-on-year during the comparable period last year.
"The export base was low and that's why you have an increase in percentage terms. You are still running below the export level in April 2008-09," commerce secretary Rahul Khullar said.
India's exports had shrunk 30 per cent to $12.4 billion in April 2009 compared with the exports of April 2008, which was in line with a 9.0 per cent contraction in global trade, government data showed.
Last April, India's exports had shrunk about 30 per cent to $12.4 billion in line with a nine per cent contraction in global trade as a result of a worldwide financial crisis.