India's exports rise, surge in gold imports push up trade gap

Exports rose by a marginal 2.73 per cent to $28.9 billion in September, but trade deficit more than doubled to $14.2 billion in the month due to a surge in gold imports.

Trade deficit in September, 2013 was $6.12 billion. Gold imports in the month under review increased manifold to $3.75 billion compared to $682.5 million in same month last year. Overall imports jumped by about 26 per cent to $43.15 billion.

During April-September period, exports registered a growth of 6.47 per cent to $163.7 billion.

Imports during the period grew by 1.57 per cent to $234 billion, leaving a trade deficit of $70.39 billion in the first half of the current fiscal.

India's export growth had slipped by 2.35 per cent at $26.95 billion in August.