India trade gap at highest-ever $185 bn

Apr 19 2012, 19:08 IST
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Country's exports grew by 21% to $303.7 billion in 2011-12 over previous fiscal. (Reuters) Country's exports grew by 21% to $303.7 billion in 2011-12 over previous fiscal. (Reuters)
SummaryCountry's exports grew by 21% to $303.7 billion in 2011-12 over previous fiscal.

July, export growth slipped to 44.25 per cent in August, 36.36 per cent in September and 10.8 per cent in October, 3.8 per cent in November 2011. However, exports grew 6.7 per cent in December and over 10 per cent in January and 4.3 per cent in February.

Exporting sectors which registered healthy growth in 2011-12 include engineering, petroleum and gems and jewellery.

Engineering, petroleum and gems and jewellery exports grew by 16.9 per cent, 38.5 per cent and 13.3 per cent to USD 58.2 billion, USD 57.5 billion and USD 45.9 billion respectively.

Readymade garments exports increased by 18 per cent to USD 13.7 billion, electronics by 9.2 per cent to USD 9 billion AND drugs by 21.9 per cent to USD 13.1 billion.

However exports of iron ore and mica and coal contracted by 3.5 per cent and 6.5 per cent respectively.

Importing sectors which registered growth in 2011-12 include electronics, chemicals, iron and steel. They grew by 23 per cent, 25.5 per cent, 15 per cent to USD 32.7 billion, USD 19.1 billion and USD 11.9 billion respectively.

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