India: Exports decelerate but remain robust
October 3, 2011
In August, exports totalled USD 24.3 billion, which represents a 44.3% increase over the same month last year. The rise came in at nearly half the extraordinary 81.7% expansion witnessed in July. Meanwhile, the moving three-month sum reached USD 82.9 billion, which was 56.5% higher than in the same period last year. Imports totalled USD 38.4 billion, which was 41.8% above the level observed the same month last year. The expansion came in below the 51.5% increase tallied in the previous month. As a result, the trade deficit widened from USD 11.1 billion in July to USD 14.0 billion in August. Exports added USD 302 billion in the last 12 months. The government has set an export target of USD 500 billion for the fiscal year 2013/14.