Exports grow in September, trade deficit still remains

India’s exports grew 36.3 per cent to $24.8 billion in September, compared with $18.2 billion in the same period in 2010. Meanwhile, imports grew 17.2 per cent to $34.5 billion, leaving a trade deficit of $9.7 billion.

Though down from the 44.2 per cent growth rate recorded in August, the rise in exports in September can be considered robust given the economic woes in the US and the debt crisis in Europe. The US and Europe are the two biggest markets for Indian goods, accounting for about 30 per cent of total shipments.

During April-September, the country’s exports grew 52 per cent to $160 billion from $105.2 billion in the same period last year.