2010 to yield $ 22.5 billion, the highest in 33 months, the
provisional data released by the Commerce Ministry showed.
The increase was aided by the capture of newer markets and increased
demand from the US and the European Union.
Imports in December declined by 11.1 per cent to $25.1 billion, the
lowest in the last 14 months.
This led the trade deficit to fall to $2.6 billion, the lowest in the
last three years.
Exports during April-December 2010 recorded a 29.5 per cent growth to
$ 164.7 billion.
The Commerce Secretary, Dr Rahul Khullar, said that if the trend
continues, exports in 2010-11 would touch a record $215-225 billion.
Imports during April-December grew by 19 per cent to $ 247.1 billion,
leading to a trade deficit of only $ 82.4 billion in the same period.
Due to the exports surge, trade deficit for the fiscal would be just
about $118-120 billion, down from the earlier estimate of $135
billion, Dr Khullar explained.
He elaborated that even with an adverse pressure on oil prices, the
current account deficit would be less than 3.5 per cent of the GDP.
He attributed the reasons for the good showing to market
diversification, better demand in the US and Europe, goodwill for
Indian exporters abroad, competitive pricing of items following the
grant of incentives, better marketing of even items such as carpets
saying they are free from child labour and being in the right markets
that were growing at the right time with better prices.
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