FY12 trade deficit hits record $185bn
― New Delhi: India's merchandise exports increased 21 per cent year-on-year to $303.7 billion in 2011-12. ∙ Thus, despite weak demand in traditional export markets such as the US and the European Union, shipments crossed the $300-billion official target set for the fiscal. ∙ Meanwhile, imports in 2011-12 soared 32.1 per cent to $488.6 billion, resulting in a record trade deficit of $184.9 billion, according to data released by the Commerce Ministry on Thursday. ∙ Read more [...].
