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India’s exports up 36.2 percent in April

New Delhi, June 1 (IANS) India’s merchandise exports rose 36.2 percent to $16.9 billion for the sixth straight month in April after 13 consecutive months of decline, official data released here Tuesday showed.

The exports were $12.4 billion in April a year ago.

In the 2009-10 fiscal, exports dropped 4.7 percent as a global meltdown had hurt demand for its products.

The government has targeted a 15 percent growth in exports in the 2010-11 financial year.

The country’s imports during April grew by 43.3 percent to $27.3 billion against $19 billion in the year-ago period, data showed.

With this, the trade deficit surged to $10.4 billion against $6.6 billion last year.

The oil imports grew by 70.5 percent to $8 billion in April 2010 against $4.7 billion in the corresponding period last year and non-oil imports increased by 34.3 percent to $19.2 billion from $14.3 billion in April 2009.

Trade experts attribute the jump in exports in the last few months to a low base effect. And there are some concerns that the ongoing debt crisis in the euro-zone could dampen demand.

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