Exports up by 2.73 per cent; surge in gold imports push up trade gap

New Delhi: India's exports rose by a marginal 2.73 per cent to USD 28.9 billion in September, but trade deficit more than doubled to USD 14.2 billion in the month due to a surge in gold imports.

Trade deficit in September, 2013 was USD 6.12 billion. Gold imports in the month under review increased manifold to USD 3.75 billion compared to USD 682.5 million in same month last year. Overall imports jumped by about 26 per cent to USD 43.15 billion. During April-September period, exports registered a growth of 6.47 per cent to USD 163.7 billion.

Imports during the period grew by 1.57 per cent to USD 234 billion, leaving a trade deficit of USD 70.39 billion in the first half of the current fiscal. India's export growth had slipped by 2.35 per cent at USD 26.95 billion in August.