Exports surge 36.4 in December

India-s export surged by 36.4% in December to USD 22.5 billion and imports decreased by 11.2% to USD 25.1 billion. This results in a trade deficit of USD 2.6 billion which is the lowest in last 3 years.

The export surged because of strong and increasing demand from the western countries. The reduced trade deficit will help to keep the trade deficit below projected USD 120 billion level for the current fiscal year 2010-11 from the earlier projected trade deficit level of USD 135 billion.