Thaindian News

New Delhi, Feb 1 (IANS) India’s exports jumped 36.4 percent to $22.5 billion in December, the highest level in nearly three years, while imports declined 11.1 percent to $25.13 billion, according to official data released Tuesday. Cumulative value of exports for the period April-December 2010 was $164.70 billion as against $127.18 billion during the same period a year ago, registering a growth of 29.5 percent.

Imports declined 11.1 percent to $25.13 billion in December, narrowing monthly trade deficit to $2.63 billion.

Cumulative value of imports for the period April-December 2010 was $246.72 billion as against $207.31 billion during the same period previous year, registering a growth of 19.01 percent, the Ministry of Commerce and Industry said in a statement.

Total trade deficit during the first three quarters of the current fiscal rose to $82.02 billion from $80.13 billion during the same period last year.

Oil imports declined 16 percent to $6.92 billion in December, while non-oil imports fell nine percent to $18.20 billion.

During April-December 2010 period, the total oil imports were $72.55 billion, registering 17.7 percent year-on-year increase. Non-oil imports rose 19.58 percent to $174.17 billion during the first three quarters of fiscal 2010-11.