India's trade deficit declines to $ 10.08 bln in April
India's trade deficit has reduced to 10.08 billion dollars in April 2014, mainly on account of lower imports and a modest increase in exports. The country's trade deficit stood at 17.67 billion dollars in April 2013.
India's exports surged by 5.26 per cent to 25.63 billion dollars during the month under review, against 24.35 billion dollars recorded in the same month last year.
In April 2014, imports declined by 15 per cent to 35.72 billion dollars as compared to 42.02 billion dollars in April 2013.
Oil imports during April 2014 were valued at 12.97 billion dollars, 0.6 per cent lower than oil imports valued at 13.05 billion dollars in the corresponding period last year.
Non-oil imports dropped by 21.5 per cent at 22.74 billion dollars during the month under review from 28.97 billion dollars recorded in the same month last year, showed official data released here today by the Ministry of Commerce and Industry.
Federation of Indian Export Organisation (FIEO) president Rafeeque Ahmed said the new financial year has started on a positive note and ''we look forward to build on it''.
''We are aiming for double-digit growth in exports to keep trade deficits within manageable limit,'' Mr Ahmed said.
The country's trade deficit stood at 10.51 billion dollars in March 2014.
(Posted on 10-05-2014)