India's exports surged 44.25 percent to $24.31 billion in August as compared to $16.85 billion during the corresponding month of the previous year, official data showed Monday.
The cumulative value of exports for April-August jumped 54.21 percent at $134.5 billion as against $87.21 billion during the like period last year, according to data released by the ministry of commerce and industry.
Imports grew 41.82 percent to $38.35 billion in July, resulting in a monthly trade deficit of $14.04 billion. The total exports in the current fiscal till August went up to $189.39 billion, a rise of 40.37 percent as against $134.9 billion in the five months of 2010-11.
The trade deficit for the April-August period now stands at $47.70 billion.
In August, oil imports amounted to $10.27 billion, 48.72 percent increase year-on-year, while non-oil imports rose 39.4 percent at $28.07 billion.
Oil imports during April-July were valued at $52.25 billion, 27.09 percent higher year-on-year. Total value of non-oil imports during the five months under review were $137.14 billion, 46.19 percent higher than the level of such imports valued at $93.81 billion during the corresponding period last year.