Exports in the month of April 2013 recorded a growth of 1.6 percent and stood at 24.16 billion US Dollar as against 23.7 billion US dollar in April 2012. The surge in gold imports pushed the trade deficits to 17.7 billion US dollar. This is the fourth consecutive month that exports have witnessed growth.
Imports of gold and silver in April 2013 doubled by 138 percent to 7.5 billion US dollar from 3.1 billion US dollar in April 2012. The merchandize imports rose by 10.9 percent to 41.95 billion US dollar bringing up the trade deficit by more than 72 percent from March. Widening of trade deficit attributed to the high gold imports.
The targeted exports for the current fiscal 2013-14 set by the Union Government is 325 billion US dollar.