New Delhi, Oct 12: India's exports maintained their growth momentum in September, 2011, rising by 36.3 per cent year-on-year to USD 24.8 billion, though there was a “deceleration” due to uncertainty in the US and Europe, Commerce Secretary Rahul Khullar today said.
On the other hand, India's imports grew by 17.2 per cent to USD 34.6 billion, resulting in a trade deficit of USD 9.8 billion for the month.
During April-September, 2011-12, the country's exports increased by 52.1 per cent to USD 160 billion.
Khullar said there is growth in country's exports, but a deceleration is clear. “Good news is back. Export continue to grow over last year, but the heady numbers have gone, it is clear there is deceleration,” he told reporters here.
During the first six months this fiscal, imports expanded by 32.4 per cent to USD 233.5 billion. The trade gap during the period amounted to USD 73.5 billion.
The sectors that exhibited major growth during the April-September, 2011, period include engineering, gems and jewellery and petroleum.
Engineering exports grew by 103 per cent to USD 46.4 billion, petroleum shipments by 53 per cent to USD 27 billion and gems and jewellery consignments by 23 per cent to USD 18.5 billion vis-a-vis the same period last fiscal.
India's petroleum imports during the six-month period grew by 42 per cent to USD 70.4 billion. PTI