Exports grew by 34.4 per cent on an annual basis to $23.8 billion in April, the first month of the 2011-12 fiscal, thus maintaining the growth momentum of the previous fiscal.
Imports were up 14.1 per cent at $32.8 billion in April year-on-year, leaving a trade gap of $8.9 billion, according to data released by the Commerce Ministry.
However, exports growth was lower in April compared to the robust growth of 54 per cent in March. The Commerce Secretary, Dr Rahul Khullar, however, played down the comparison to March. "March is always a peak month, I am not worried," he said.
In April 2011, crude oil imports grew by 7.7 per cent to $10.1 billion from $9.4 billion in the same month of last year. Non-oil imports also went up by 17.3 per cent to $22.6 billion from $19.3 billion.
The country's total merchandise exports had aggregated to $246 billion in 2010-11, growing by an impressive 37.55 per cent.
Imports during the just-concluded fiscal stood at $350 billion, down by 21.6 per cent, and the trade deficit was $104 billion.
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