India’s Foreign Trade Data: Over 36 % rise in exports in December 2010

Exports in December rose an annual 36.4% to $22.5 billion, while imports for the month fell 11.1% on the year to $25.1 billion, government data released on February 1, 2011 showed.

The trade deficit in December narrowed to $2.6 billion compared with $8.9 billion in November. Exports rose an annual 29.5% to $164.7 billion in April-December 2010.

The trade deficit for April - December, 2010 was estimated at US $ 82017 million which was higher than the deficit of US $ 80133 million during April -December, 2009.

Last August, India's trade deficit had widened to a 23-month high of USD 13.06 billion but, since then, the growth in imports has slowed sharply, easing pressure on the current account deficit.

December's provisional figures in early January, said the trade deficit was now at its lowest in three years while exports were at their highest in 33 months.

Asia's third-largest economy is targeting close to 15% export growth in the current fiscal year.

As the imports into the country contracted by 11.1 per cent to $ 25.13 billion in December, raised concerns about the pace of industrial growth. The contraction in imports comes at a time when industrial production growth dipped to 18 months in November at 2.7 per cent.

 

Last Update Thursday 3rd February 2011     

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