As per the data released on February 12, 2011, India's exports showed a healthy 32.5 per cent year-on-year growth in January, 2011. Raising hopes of India surpassing the $200 billion export target and possibly touching $220 billion, exports rose to $20.6 billion in January on an annual basis driven by pick-up in demand from traditional markets of the U.S. and Latin America.
During April 2010-January 2011, the country's exports went up by 29.4% to USD 184.6 billion over the year ago period.
Imports in January, 2011 is estimated to increase by 13.1% to USD 28.6 billion over the same period last year, leaving a trade deficit of USD 8 billion during the month under review.
During April-January, 2010-11, imports rose by 17.6% to USD 273.6 billion.
In December 2010, shipments grew by 36.4 per cent to $22.5 billion on an annual basis, the highest in 33 months.
According to official estimates, the sectors that performed well during April-January 2010-11 include gems and jewellery (9.3 per cent), engineering (70 per cent) and petroleum and oil lubricants (36 per cent).
The government had set an export target of $200 billion for 2010-11.
Last Update Saturday 19th February 2011