ibnlive » Business

Feb 13, 2013 at 02:54pm IST

India's exports up by 0.82 per cent at $ 25.58 billion in January

New Delhi: After contracting for eight straight months, India's exports grew by a meagre 0.82 per cent in January to $25.58 billion. Exports had stood at $25.37 billion in January, 2012.

Imports rose by 6.12 per cent to $45.5 billion in the month under review, widening the trade deficit to USD 20 billion.

However, during the April-January period of 2012-13, the country's overseas shipments shrunk by 4.86 per cent to $239.6 billion. Imports during the period rose by 0.01 per cent to $406.8 billion. Trade deficit during the 10-month period stood at $167.16 billion.

India's exports up by 0.82 pc at $ 25.58 bn in January

During the April-Jan period of 2012-13, the country's overseas shipments shrunk by 4.86 per cent to $239.6 billion.

"Widening trade deficit is a cause of concern," Commerce Secretary SR Rao said, adding that crude oil imports are growing at a higher rate. Oil imports in January grew by 6.91 per cent to $15.89 billion from $14.87 billion in the corresponding period last year.

Non-oil imports, too, increased by 5.71 per cent during the month under review to $29.68 billion.

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