India's exports for the month of January 2012 have registered a growth of 10.1%, at US$ 25.4 billion while imports gained to US $ 40.1 billion with a growth of 20.3%, as per provisional figures by the commerce ministry. The Commerce Secretary clarified that the figures are only the rough estimates and the final figure is subject to change.
Balance of Trade stood at US $ (-) 14.7 billion during January 2012. India's trade deficit widened to a three-month high in January as import growth outpaced the climb in exports. During the period April 2011—January 2012 the export stood at 242.8 billion US $ with a growth of 23.5%, Imports for the April 2011- January 2012 stood at 391.5 billion US $ with the growth of 29.4%.
During April 2011-January 2012, the following sectors have done well viz., engineering, (US $ 49.7 billion) which registered the growth of 21%; petroleum & oil products (48.9 US $ billion), 50.1%; Gems & Jewellery registered the growth of 33% (US $ 37 billion); Drugs and pharmaceuticals 21.1% (US $ 10.20 billion US $);leather 23.4% (US $ 3.8 billion) Cotton yarn and fabric made-up 14.7% (US $ 5.59 billion) ; electronics,(US$7.3 billion) 13.4% ; Readymade garments, 21.5% ( US $ 10.9 billion), other basic chemicals grows by 29.6 % with the (US $ 8.8 billion US $).
As regards to imports during April 2011-January 2012, the growth estimates on the following sectors are: POL, 38.8% (US $ 117.9 billion); Gold and silver 46.6% (US 50 billion); machinery, 25.8% (US $ 28.8 billion), electronics, 22.9% (US $ 27.8 billion), Organic & inorganic chemicals 23.6% (US $ 15.8 billion ) and coal 69% (US $ 14.1 billion US $).
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