Press Information Bureau

Government of India

Ministry of Commerce & Industry

09-March-2012 15:29 IST

India’s exports for the months of April 2011 - February 2012 have registered a growth of 21.4%, at US $ 267.4 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the same period the imports were US $ 434.2 billion with a growth of 29.4% and a Balance of Trade stood at US $ (-)166.8 billion, during the same period. Shri Khullar also informed that India’s exports in February 2012 were US $ 24.6 billion with 4.3 % growth and imports stood at US $ 39.8 bn with growth of 20.6% Balance of trade for the month of February 2012 stood at (-) 15.2 billion US $.

During April-February 2012, the following sectors have done well with regard to exports- engineering, (US $ 54.5 billion) which registered the growth of 20.9%; petroleum & oil products, 46% (US $ 53 billion); Gems & Jewellery registered the growth of 28.8% (US $ 40.6 billion); Drugs and pharmaceuticals 11.4% (US $ 11.4 billion );leather 20.4% (US $ 4.1 billion) Cotton yarn and fabric made-up 18.5% (US $ 6.1 billion) ; electronics, 3.5% (US $ 8 billion); Readymade garments, 19% ( US $ 12.1 billion).

As regards to imports during April-February 2012, the growth estimates on the following sectors are: POL, 41% (US $ 132.6 billion); Gold and silver 38.5% (US$ 54.5 billion); machinery, 27% (US $ 32.2 billion), electronics, 21.8% (US $ 30.1 billion), and coal 72% (US $ 15.5 billion US $).

The Commerce Secretary clarified that the figures are only the rough estimates and the final figure is subject to change.

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Trade balance shows widening deficit as imports outpace exports despite notable export growth in key sectors. India's merchandise exports for April 2011-February 2012 rose 21.4% to US$267.4 billion while imports grew 29.4% to US$434.2 billion, producing a balance of trade deficit of about US$166.8 billion. February 2012 monthly data continued the pattern of export growth with larger import increases. Export gains were driven by engineering, petroleum and oil products, gems and jewellery, pharmaceuticals, leather, textiles, electronics and garments; import growth was led by petroleum and oil, gold and silver, machinery, electronics and coal. The Commerce Secretary stated these are provisional estimates subject to revision.