Export Grows 81% in July at US $ 29.3 Billion: Commerce Secretary
India’s exports have registered a growth of 81.8% during July 2011, at US $ 29.3 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-July 2011, exports have reached a level of US $ 108.3 billion, a growth of 54% while the imports were US $ 151 billion with a growth of 40% and a trade deficit of US $ 42.7 billion, during the same period. During the interaction, Shri Khullar also informed that India’s imports in July 2011 were US $ 40.4 billion registering the growth of 51.5%. Balance of trade for the month of July 2011 stood at 11.1 billion US dollar.
During April-July 2011, the following sectors have done well viz., engineering, (US $ 31.6 billion); Gems & Jewellery, (12.8 billion US $); petroleum & oil products, 60% (US $ 18.6 billion); manmade yarn & made-ups, 38% (US $ 1.73 billion); electronics, 84% (US $ 3.72 billion); Readymade garments, 40% ( US $ 5 billion) and leather registered a growth of 29%.
Shri Khullar also stated that exports of iron ore, fruits & vegetables and tobacco are not doing well.
As regards to imports during April-July 2011, the growth estimates on the following sectors are: POL, 23% (US $ 42 billion); pearls & precious stones, (US $ 11.16 billion); gold & silver, 180% (US $ 21.5 billion); machinery, 45% (US $ 12 billion), electronics, 75% (US & 10.3 billion), Organic and inorganic chemicals. Shri Khullar later informed that imports of fertilizers have started picking up. The Commerce Secretary clarified that the figures are only the rough estimates and the final figure is subject to change.