India's exports up 1.6 pc at $ 24.16 bn in April

New Delhi: Country's merchandise exports grew by 1.6 per cent to $24.16 billion in April this year, whereas imports increased by 10.9 per cent. Imports during the reported month stood at $41.95 billion.

Exports in April 2012 stood at $23.7 billion, while imports were at $37.8 billion. Due to high imports, the trade deficit rose to $17.8 billion, Commerce Secretary SR Rao told reporters on Monday.

Rao attributed the widening of trade deficit in the first month of the current fiscal to high gold imports. Gold and silver imports during April, 2013 jumped by 138 per cent to $7.5 billion against $3.1 billion in the year-ago period.