Country's exports have recorded an impressive growth of 81.8 per cent in the month of July in comparison to the corresponding period last year. Commerce Secretary Rahul Khullar told reporters in New Delhi on Thursday that exports surpassed the figure 29 billion US Dollars in the month, due to the excellent performance of engineering, petrochemical products and jewellery sectors. He however added that high growth rate is unlikely to be sustained in the coming months due to uncertainty in the US and European economies. US and European countries contribute about 35 per cent to India's exports. Talking about demand in the new markets, he said that exports are registering good growth in new markets like Latin America and Africa. The Commerce Secretary also noted that imports too increased by 51 per cent leaving the trade deficit above 11 billion dollars. Mr. Khullar said that during the first four months of the fiscal, imports grew by 40 per cent to 151 billion dollars, led by inbound shipments of petroleum products worth 42 billion dollars.
News On AIR | August 11, 2011 7:44 PM