India’s exports grew by an annualised 34.4 per cent to USD 23.9 billion in April maintaining a tempo of the last financial year despite a decline as compared to 44 per cent growth in March.
Imports, for the opening month of the fiscal 2011-12, were up 14.1 per cent to USD 32.8 billion leaving a trade gap of USD 8.9 billion.
Releasing the trade data on Thursday, Commerce Secretary Rahul Khullar said, though the growth in April was lower than March, it was not a big concern.
“March is always a peak month, I am not worried,” he said.
The country’s total merchandise exports aggregated USD 246 billion growing by an impressive 37.55 per cent in the previous fiscal.
Imports in the fiscal 2010-11 were USD 350 billion, down by 21.6 per cent and the trade deficit was USD 104 billion.
Keywords: India exports