Thaindian News

New Delhi, Sep 1 (IANS) India’s exports surged 81.79 percent to $29.34 billion in July as compared to $16.14 billion during the corresponding month of the previous year, official data showed Thursday.

Cumulative value of exports for April-July jumped 53.98 percent at $108.34 billion as against $70.36 billion during the like period last year, according to data released by the ministry of commerce and industry.

Imports grew 51.52 percent to $40.42 billion in July, resulting in the monthly trade deficit of $11.08 billion.

Total value of exports during the first four months of 2011-12 fiscal rose to $151.04 billion as compared to $107.88 billion during the like period in the previous fiscal, registering a growth of 40 percent.

With the rise in imports and exports, trade deficit has also increased. During April-July period trade deficit rose to $42.69 billion, as compared to $37.52 billion during the corresponding period of last year.

In July, oil imports amounted to $11.44 billion, 37.02 percent increase year-on-year, while non-oil imports rose 58.12 percent at $28.98 billion.

Oil imports during April-July were valued at $41.97 billion, 22.72 percent higher year-on-year. Total value of non-oil imports during April-July were $109.06 billion, 48.03 percent higher than the level of such imports valued at $73.68 billion during the corresponding period last year.