India’s exports rose 33.2 percent in Apr-Nov

December 9th, 2011 - 6:24 pm ICT by IANS  

New Delhi, Dec 9 (IANS) India’s exports rose by 33.2 percent to $192.7 billion in the first eight months of 2011-12 while imports during the same period increased to $309.5 billion, resulting in a trade deficit of $116.8 billion, Commerce Secretary Rahul Khullar said Friday.

Exports in November stand at $22.3 billion and imports at $35.9 billion, creating a trade deficit of $13.6 billion.

Talking to reporters here, Khullar said India’s exports have registered healthy growth so far this year despite a turmoil in the global economy. “Growth in exports is still good,” he said.

Petroleum and oil products and engineering goods have led the exports’ growth.

During April-November, exports of petroleum and oil products surged by 62.3 percent to $39.5 billion and that of engineering goods jumped by 22.3 percent to $40.7 billion.

Other sectors that have done well include cotton fabrics madeups, 13.7 percent up at $4.4 billion; electronics, 17 percent up at $5.83 billion; readymade garments, 28 percent up at $8.4 billion.

Exports of basic chemicals grew by 34 percent at $6.7 billion, drugs, 21 percent, at $7.9 billion and gems and jewellery, 56.5 percent increase at $30.1 billion.

Petroleum, oil and lubricants, precious metals, engineering and electronics products were the major drivers of India’s imports bill during the first eight months of the current fiscal.

Imports of petroleum, oil and lubricants rose by 42.7 percent at $94.1 billion during April-November period.

Imports of gold and silver increased by 56 percent at $41.4 billion; machinery, 27 percent at $22.8 billion, electronics, 21 percent up at $22.3 billion. vegetable oil, 55 percent up at $6.7 billion; Iron and steel, 8 percent higher at $7.7 billion; fertiliser, 17 percent up at $6.6 billion; coal, 61 percent higher at $11.3 billion; organic and inorganic chemicals, 23 percent higher at $12.5 billion; ores and scraps 41 percent higher at $8.7 billion,

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