Rising imports, falling exports push April-Feb trade deficit to $167 bn

India's trade deficit rose 44.67 per cent to $166.75 billion during the first 11 months of the financial year (April-February 2011-12) compared to its trade deficit of $115.26 billion during April-February 2010-11 amidst a slackening of its exports and generally rising imports.

India exported goods and services worth $24.62 billion (Rs121,039.96 crore) in February 2012 , which was 4.28 per cent higher in dollar terms and 12.84 per cent higher in rupee terms compared to its exports worth $23.61 billion (Rs107,266.46) during February 2011.

Cumulative value of exports for the period April-February 2011-12 stood at $267.41 billion (Rs12,74,839.70 crore) against $220.24 billion (Rs10,03,784.83 crore), an increase of 21.42 per cent in dollar terms and a 27 per cent in increase in rupee terms compared to the figures for the same period last year.

India imported goods and services worth $39.78 billion (Rs195,595.00 crore) in February 2012, a growth of 20.65 per cent in dollar terms and a 30.56 per cent rise in rupee terms over imports valued at $32.97 billion (Rs149,817.29 crore) in February 2011.

Cumulative imports for the April-February 2011-12 period stood at $434.16 billion (Rs20,69,642.80 crore) against $335.50 billion (Rs15,29,295.07 crore) during the comparable period of the previous fiscal - a growth of 29.41 per cent in dollar terms and a 35.33 per cent growth in rupee terms over the same period last year.

As usual, oil accounted for bulk of the country's imports during February 2012, at $12,659.9 million, a 39.45 per cent increase compared to oil imports valued at $9.08 billion in the corresponding period of the previous year.