India Trade Deficit Widens in April

India’s trade deficit rose in April from the same month a year earlier as imports of gold and silver increased more than twice, underlying an improvement in exports.
Anna Fedec, anna@tradingeconomics.com 5/13/2013 10:56:08 AM

The deficit widened to INR967 billion from INR727 billion in April of 2012.

Exports rose 1. 6 percent from a year earlier to INR1314 billion, the fourth straight month of improvement. Items that contributed to the rise in exports include gems & jewellery, rice, readymade garments, cotton and marine products, while engineering goods, which is one of the top export items, posted a decline of 8.6 per cent.

Imports rose 10.9 percent from a year earlier to INR2281 billion. Gold and silver imports were up by 138 percent, as retail consumers in the world's biggest gold importer went on a buying spree after global prices fell. Oil imports were up 3.9 percent.


India Trade Deficit Widens in April