NEW DELHI, Mar 15 (AFP): India's merchandise exports rose 26 per cent in the 11 months to February, but rising oil import prices led to a widening trade gap, the government said Wednesday.
Exports for the period rose to 88.7 billion dollars from 70.2 billion dollars in the same period last year, the ministry of commerce said on its website.
But India's imports in the same period rose 33 per cent to 126 billion dollars with oil imports accounting for 39.7 billion dollars, a 49.4 per cent increase over the same period last year.
India imports about 70 per cent of its oil requirements.
As a result, the trade deficit in the April-February period of India's fiscal year widened to 37.57 billion dollars from 24.73 billion during the same period last year
For February, exports rose 12.3 per cent to 7.8 billion dollars while imports gained 21.4 per cent to 11 billion dollars.