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With exports growing at a much faster rate than imports, India’s trade deficit during April-February 2010-11 declined to $97.06 billion from $100.24 billion in the same period previous fiscal.
Decline in trade gap augurs well for the country’s current account deficit (CAD) which has come down by 20.49 per cent to $9.7 billion during the October-December quarter over the same period last fiscal.
CAD, which includes deficit in external trade of goods and services, besides net investment income, stood at 2.9 per cent of GDP last fiscal.
Merchandise exports during the 11-month period of 2010-11 went up by 31 per cent to $208 billion, while expansion in imports was much slower at 18 per cent to $305.3 billion over the same period last fiscal.
In February, the trade deficit declined to $8.1 billion from $10.4 billion a year ago, according to the Commerce Ministry data released today.
In 2010-11, the trade gap is expected at $110 billion compared with $102 billion in 2009-10, trade experts said.
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