Oil drives April exports to highest in 4 years; imports up 10%, trade deficit at 3-month high
NEW DELHI: Higher petroleum prices propelled India’s exports to $43.6 billion, the highest monthly level in over four years, showing a 13.8% growth, which is fastest in five months. Imports rose at a more moderate pace of 9.9% to $71.9 billion, resulting in a trade deficit of 28.3 billion, a three-month high.
Oil product exports jumped 34.7% to $9.6 billion in April, next only to engineering ($10.3 billion). Diesel, aviation fuel and petrol exports had shrunk nearly 15% to under $54 billion last year as global prices remained muted.
