Healthy growth in engineering, marine and leather goods shipments pushed export growth to 5-month high of 5.26% in April, while declining gold imports narrowed the trade deficit to $10 billion.
The deficit was $17.6 billion in April 2013. Exports in the first month of the current fiscal aggregated at $25.63 billion, while imports declined by 15% to $35.7 billion. Oil and non-oil imports in April declined by 0.6% and 21.5% to $12.97 billion and $22.74 billion respectively.
Engineering, marine and leather goods exports last month recorded growth of 21.25%, 42.18% and 30.42% respectively. Iron ore exports too grew by 23.43% to $152 million.
However, gems & jewellery exports dipped by 8% to $3.27 billion. Industry experts said that curbs on gold imports are leading to decline in gems & jewellery exports.
Gold imports last month declined by 74.13% to $1.75 billion from $6.78 billion in April 2013.
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