India's exports up 44.2 pc in August, imports grow by 41.8 pc

New Delhi, Oct 3 (PTI) India's exports maintained their
growth momentum in August, 2011, rising by 44.2 per cent
year-on-year to USD 24.3 billion despite the economic woes in
traditional Western markets, according to data released by the
Commerce Ministry on Monday.
Imports, too, grew by 41.8 per cent to USD 38.4 billion
in August, translating into a trade deficit of USD 14 billion
during the month, as per the data.
However, Commerce Secretary Rahul Khullar has said that
growth in coming months will be difficult on account of
uncertainty in Western markets.
During the April-August period, India's exports grew by
54.2 per cent to USD 134.5 billion, the data shows.
In the April-August period, imports expanded by 40.4 per
cent to USD 189.4 billion. The trade gap during the period
amounted stood at USD 54.9 billion, the Commerce Ministry data
shows.
Oil imports during August, 2011, were valued at USD 10.3
billion, translating into a growth of 48.7 per cent compared
to the corresponding period last fiscal, while non-oil imports
rose to USD 28 billion, an expansion of 39.4 per cent
vis-a-vis the same month of 2010-11.
The data also shows that oil imports during the
April-August, 2011, period stood at USD 52.3 billion and
non-oil imports during the five-month period amounted to USD
137 billion. PTI TA
MNS