India's exports rose 33.2% in Apr-Nov | business | Hindustan Times
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India's exports rose 33.2% in Apr-Nov

business Updated: Dec 09, 2011 17:09 IST
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India's exports rose by 33.2% 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 on 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% to $39.5 billion and that of engineering goods jumped by 22.3% to $40.7 billion.

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

Exports of basic chemicals grew by 34% at $6.7 billion, drugs, 21%, at $7.9 billion and gems and jewellery, 56.5% 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% at $94.1 billion during April-November period.

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