India's Trade Gap Widens To $14.7 Bn In Jan 2012, Exports Up By 10.1% Y-O-Y (09-Feb-2012)
Exports continued to grow, but on a moderate basis by about 10.1% y-o-y in January 2012 to $25.4 billion, while imports increased by 20.3% at $40.1 billion widening India's trade deficit to $14.7 billion in January 2012 as against $12.8 billion in December 2011.
Commerce Secretary, Rahul Khullar, citing provisional data, has said that Indian exports which stood at $25 billion in December 2011 and have grown to $25.4 billion in January 2012. Imports are up from $37.7 billion in December 2011 to $40.1 billion in January 2012.
Cumulative exports for the period April- January reached $242.8 billion. Imports on the other hand grew by 29.4% to $391.5 billion during the April-January period. The trade deficit stood at $ 148.7 billion for the period.
Khullar further stated that though India's trade deficit has increased in January 2012, it is not a worrisome number and can be expected to narrow down over the next two months. India's exports for the fiscal year through March are expected to be between $295 billion and $305 billion with imports totaling $460 billion, while the trade gap is seen around $160 billion in FY12.
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