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Exports grow 21% at $303.7 bn; trade deficit shoots up
Source: PTI April 19, 2012 13:16 IST
Country's exports grew by 21 per cent to $303.7 billion in 2011-12 over the previous fiscal, while imports shot up by 32.1 per cent.
Imports reached $488.6 billion, leaving a trade deficit of $184.9
billion, Commerce Secretary Rahul Khullar said in New Delhi on Thursday.
"This is the highest trade deficit and is a serious concern," he said.
Khullar also said gold imports, which contributed in increasing the bill, is expected to decline in the current fiscal (2012-13) due to the duties imposed by the government.
Source:
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