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The country’s exports went up by 37.55 per cent to USD 245.86 billion during FY2010-11, demonstrating robust demand for Indian merchandise not just in Western economies, but in new markets like Latin America and Africa as well.
Imports, however, were higher at USD 350.69 billion in FY2010-11, despite growing at a lower pace of 21.6 per cent amid increasing crude oil prices. This translates into a trade deficit of USD 104.82 billion for the 2010-11 fiscal.
Imports, however, were higher at USD 350.69 billion in FY2010-11, despite growing at a lower pace of 21.6 per cent amid increasing crude oil prices. This translates into a trade deficit of USD 104.82 billion for the 2010-11 fiscal.
With respect to the month of March, 2011, India’s exports rose by a handsome 43.85 per cent to USD 29.1 billion vis-a-vis the same month of the previous financial year, according to data released by the Commerce Ministry today.
On the other hand, imports in March totalled USD 34.7 billion, up 17.27 per cent year-on-year.
The country’s total merchandise trade has almost touched USD 600 billion — half of India’s gross domestic product of USD 1.2 trillion.
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