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.

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.

Anna Fedec,
5/13/2013 10:56:08 AM