its trade deficit.
At 10 per cent in 2011-12, India's trade deficit as a per cent of GDP is one of the highest in the world.
Trade deficit reached a peak of USD 184.6 billion in 2011-12 from USD 118.6 billion in 2010-11 with the highest growth of 55.6 per cent since 1950-51.
"Moderate export growth and high import growth, particularly in POL (oil) imports due to high prices and high gold and silver imports, led to the highest-ever trade deficit in India since 1950-51, contributing to a high current account deficit (CAD) of 4.2 per cent of GDP," it said.
The trade deficit of USD 167.2 billion for 2012-13 (April-January) was 7.9 per cent higher than the USD 154.9 billion in 2011-12 (April-January).