August exports up 44.2%

August exports up 44.2%

New Delhi: August exports rose 44.2% to $24.3 billion, while imports for the month rose 41.8% to $38.4 billion, leaving a trade deficit of $14.1 billion, Trade Secretary Rahul Khullar said on Friday.

Indian exporters enjoyed record growth in the last fiscal year and have notched high double digit growth in recent months, buoyed by demand for the country’s cars, petroleum products and precious stones.

However, economic turbulence in the United States and Europe, India’s top sales destinations, has prompted Khullar to warn of a slowdown in export growth for the remainder of the fiscal year ending March 2012.

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