Exports grow by 22.5% to $16.6 bn in August

Exports grew by 22.5 per cent to $16.64 billion in August compared to the same period last fiscal, a senior Commerce Ministry official said today.

Imports, too, jumped by 32.2 per cent year-on-year to $29.7 billion in August, Commerce Secretary Rahul Khullar told reporters here.

“Export growth is relatively slow, well below the level of 2009. From next month onwards hopefully, you should see growth at the level of 2008,” Khullar said.

During April-August this fiscal, exports posted a growth rate of 28.6 per cent to $85.27 billion on a year-on-year basis. Imports during the April-August period grew by 33.1 per cent to $141.89 billion.

The country’s trade deficit widened to $13.06 billion in August compared to the year-ago period. For the April-August, 2010, period, the trade deficit amounted to $56.62 billion.

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