Exports grow by 22.5% to $16.6 bn in August

Exports grew by 22.5 per cent to $16.64 billion in August compared to the same period last fiscal, a senior Commerce Ministry official said today.

Imports, too, jumped by 32.2 per cent year-on-year to $29.7 billion in August, Commerce Secretary Rahul Khullar told reporters here.

"Export growth is relatively slow, well below the level of 2008-2009. From next month onwards hopefully, you should see growth at the level of 2008-2009," Khullar said.

During April-August this fiscal, exports posted a growth rate of 28.6 per cent to $85.27 billion on a year-on-year basis. Imports during the April-August period grew by 33.1 per cent to $141.89 billion.

The country's trade deficit widened to $13.06 billion in August compared to the year-ago period. For the April-August, 2010, period, the trade deficit amounted to $56.62 billion.