Exports grow 34.4 per cent in April

New Delhi: India`s exports grew by an annualised 34.4 per cent to USD 23.9 billion in April maintaining a tempo of the last financial year despite a decline as compared to 44 per cent growth in March.

Imports, for the opening month of the fiscal 2011-12, were up 14.1 per cent to USD 32.8 billion leaving a trade gap of USD 8.9 billion.

Releasing the trade data here today, Commerce Secretary Rahul Khullar said, though the growth in April was lower than March, it was not a big concern.

"March is always a peak month,I am not worried," he said.

The country`s total merchandise exports aggregated USD 246 billion growing by an impressive 37.55 per cent in the previous fiscal.

Imports in the fiscal 2010-11 were USD 350 billion, down by 21.6 per cent and the trade deficit was USD 104 billion.