India's exports increased by 26.9 per cent in August, while the import bill soared by 51.2 per cent leaving a trade deficit of $13.94 billion for the month.
Exports grew to $16 billion in August from $12.61 billion, while imports rose to $29.94 billion from $19.8 billion in the same period last year.
The trade deficit widened to $13.94 billion in August from $7.19 billion a year-ago, according to official figures released in New Delhi on Wednesday.
India's crude oil import bill shot up by 76.7 per cent to $10.96 billion from $6.2 billion in August 2007.
For the April-August 2008 period, exports showed a growth of 35.1 per cent to $81.22 billion. Imports rose by 37.7 per cent to $130.36 billion in the first five months of the fiscal.
Consequently, the deficit in this period stood at $49.13 billion.