Aug trade deficit narrows to $10.9 bn as exports rise

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Summary* Exports grow 12.97% to $26.13 bn, the highest growth in last two years.

economic growth in the US will also lead to higher demand in the coming months,” the minister said.

Exports during April-August increased 3.89 % to $124.46 billion over $119.771 billion in April-August 2012. Imports during the period grew 1.72 % to $197.79 billion compared with $194.44 billion in the same period of the previous fiscal. Trade deficit for April-August 2013-14 declined to $73.36 billion compared with $74.67 billion in April-August 2012-13.

‘India should export iron ore’

Commerce minister Anand Sharma urged for easing the restrictions on exports of iron ore, the exports of which have declined 60% in the last two years.

“We have got adversely impacted on the coal front and the mining sector is an area of concern as it has declined. India should export iron ore and we must take up these problems with the judiciary,” he said.

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