India’s trade deficit seen lower at $71.17 billion in April-August FY’13

India imported goods and services worth an estimated $37.95 billion (Rs2,10,865.35 crore) in August 2012 while the country's exports during the month stood at $22.33 billion (Rs1,24,067.50 crore), raising the country's current account deficit for the year so far by around $15.62 billion to $71.17 billion.

Trade deficit for the first five months of the current financial year, however, is lower compared to the trade deficit of $76.20 billion during April-August 2011-12, data released by the commerce ministry showed.

India's exports during August 2012 were valued at $22.33 billion (Rs1,24,067.50 crore), which was 9.74 per cent lower in dollar terms and 10.76 per cent higher in rupee terms compared to exports worth $24.74 billion (Rs1,12,016.94 crore) during August 2011.

For the period April-August 2012-13 the country's exports stood at $119.77 billion (Rs6,55,670.24 crore) as against exports worth $127.59 billion (Rs5,71,179.18 crore) in April-August 2011-12, a negative growth of 5.96 per cent in dollar terms and growth of 14.79 per cent in rupee terms over the same period last year.

Imports into the country during August 2012 were valued at $37.95 billion (Rs2,10,865.35 crore) against imports valued at $32.98 billion (Rs1,81,045.87 crore) in August 2011, representing a negative growth of 5.08 per cent in dollar terms and a growth of 16.47 per cent in rupee terms.

For the April-August 2012-13 period, the country imported goods and services worth $191.15 billion (Rs10,44,658.06 crore) against imports worth $203.79 billion (Rs9,12,439.82 crore), representing a negative growth of 6.20 per cent in dollar terms and a growth of 14.49 per cent in rupee terms over the same period last year.