JOC Staff | Oct 12, 2011 9:53AM EDT
India’s exports surged 36.3 percent year-over-year to $24.8 billion in September, according to latest provisional figures released by the Commerce Ministry.
Total exports from April through September, the first half of fiscal 2010-11, increased 52 percent to $160 billion from a year earlier.
“Exports continue to grow over last year, but the heady numbers have gone and it is clear there is a deceleration due to the uncertainty in the U.S. and European economies," according to a ministry official.
Imports for September went up 17.2 percent to $34.6 billion year-over-year, creating a trade gap of $9.8 billion.
Total imports during the first half were estimated at $233.5 billion, up 32.4 percent from a year earlier.
Trade deficit for the six-month period amounted to $73.5 billion.
According to the ministry, export growth during April-September was primarily led by engineering goods and petroleum products, which grew 103 percent and 53 percent, respectively, in value terms.