Exports jumps 27.6% in March; trade deficit swells to $10.4 billion

New Delhi: India's exports grew by 27.6 per cent to USD 29.23 billion in March on account of robust performance by sectors like petroleum, textiles, engineering goods and gems and jewellery.

Imports too jumped 45.25 per cent to USD 39.66 billion last month from USD 27.3 billion in March 2016.

A huge spike in gold imports pushed the trade deficit to USD 10.43 billion during the month under review from USD 4.4 billion a year ago.

The imports of the precious metal rose to USD 4.17 billion in March this year compared to USD 973.45 million in the same month last year.

For the full fiscal 2016-17, exports saw a growth of 4.71 per cent at USD 274.64 billion against USD 262.3 billion in 2015-16.