Mr Rahul Khullar union commerce secretary told that India’s exports have registered a growth of 44.2% during August 2011, at USD 24.3 billion.

Interacting with the media persons, Mr Khullar informed that during the period April to August 2011, exports have reached a level of USD 134.5 billion, a growth of 54.2% while the imports were USD 189.4 billion with a growth of 40.4% and a trade deficit of USD 54.9 billion, during the same period.

During the interaction, Mr Khullar also informed that India’s imports in August 2011 were USD 38.4 billion registering the growth of 41.8%. Balance of trade for the month of August 2011 stood at USD -14.1 billion.

During April to August 2011, the following sectors have done well viz., engineering, (USD 39.6 billion) which registered the growth of 81% over the last year and in the month of August it was 7 billion alone; petroleum & oil products, 60% (USD 24.2 billion) and 4 billion for the month of August; Cotton 13,2% (USD 2,7 billion) ; electronics, 75% (USD 4.7 billion); Readymade garments, 32% ( USD 5.75 billion).

Mr Khullar also stated that exports of iron ore, fruits & vegetables are not doing well. He further said that, suddenly the Imports are catching up with the exports.

As regards to imports during April-August 2011, the growth estimates on the following sectors are:
POL, 27% (US D 52.2 billion)
Gold and silver 130% (USD 26.3 billion)
Machinery, 45% (USD 14.9 billion)
Coal 65% (USD 7 billion)

Mr Khullar later informed that imports of fertilizers have started picking up and it has grown double alone in this month. Readymade garments and textiles have done quite well. The Commerce Secretary clarified that the figures are only the rough estimates and the final figure is subject to change.

(Sourced from FE)