A Reuters calculation put India's merchandise trade deficit
in March at $19.73 billion, higher than the $17.43 billion
recorded in the previous month, and above the $18.30 billion
forecast in a Reuters poll.
March merchandise exports were $38.38 billion, up from
$33.88 billion in February, while imports rose to $58.11 billion
from $51.31 billion, the government data showed.
India's April-March merchandise exports were up 6%
year-on-year to $447.46 billion, while goods imports during the
same period were up 16.5% to $714.24 billion, the data showed.
The country's services exports in March were $27.75 billion,
while services imports were $14.05 billion, according to the
government's preliminary estimate. Services exports in February
were $29.15 billion, while imports were $14.55 billion.
India's merchandise and services exports were up nearly 14%
on the year to $770.18 billion in the last fiscal year that
ended on March 31, while imports were up 17.4% to $892.18
billion during the period.
In the same period, India's imports from Russia surged
369.44% to $46.33 billion.
The rise in services exports has helped India's current
account deficit to shrink more than expected in the
October-December quarter, offsetting weakness seen in goods
exports.
(Reporting by Aftab Ahmed; Editing by Krishna N. Das and
Alexander Smith)
(Adds details, background)
NEW DELHI, April 13 (Reuters) - India's exports of
merchandise and services rose by 6% in the fiscal year to March
31, Indian government data released on Thursday showed, while
imports from Russia surged.
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