Fiscal export of India fell down 1.76 percent to $300.6 billion in 2012-13 following the global economic uncertainties, government data showed Thursday.
However, the imports shown an increase of 0.44 percent to $491.48 billion in comparison to $489.31 billion in 2011-12, leaving a trade deficit of $190.91 billion and an handsome increase of 4.12 percent with respect to $183.35 billion in 2011-12.
According to data revealed by the ministry of commerce, crude oil, which plays an important part in India's imports, increased by 9.22 percent at $169.25 billion from $154.96 billion in 2011-12.
"Non-oil imports during April-March 2012-13 were valued at $322.23 billion, which was 3.62 percent lower than the level of such imports valued at $334.35 billion in April-March 2011-12," the ministry said in a statement.
For the month March, exports in India increased by 6.97 percent, as overseas earnings stood at $30.84 billion from $28.83 billion reported in the consequent period last year.
Moreover, Imports in India increased at a marginal rate in comparison to exports at 2.87 percent in the month under review at $41.16 billion from 42.38 billion in the same month last year.
Import of oil in the month of March declined by 16.56 percent reported at $13.32 billion from $15.97 billion in the corresponding month last year. In contrast to that, non-oil imports during the last month increased by 5.41 percent at $27.83 billion from $26.40 billion in March, 2013.
-With inputs from IANS
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