India’s Trade Deficit Increases To $ 11.8 Billion As Exports Decline In March

17 April, Mumbai

The country’s exports declined 21.1 per cent, to 24 billion dollars in March this year. Imports contracted 13.4 per cent, to 35.7 billion dollars in March, leaving a trade deficit of 11.8 billion dollars.

Cumulative exports contracted 1.2 percent, to 310.5 billion dollars in the 2014-15 fiscal, and missed the annual target of 340 billion dollars. Imports slipped 0.6 per cent, to 447.5 billion dollars, leaving a trade deficit of 137 billion in the last fiscal.

Oil imports tumbled 52.7 per cent in March this year. But gold imports almost doubled, to 5 billion dollars during the month.