New Delhi: Country's exports grew by 21 percent to USD 303.7 billion in 2011-12 over the previous fiscal, while imports shot up by 32.1 percent.
Imports reached USD 488.6 billion, leaving a trade deficit of USD 184.9 billion, Commerce Secretary Rahul Khullar said here on Thursday.
"This is the highest trade deficit and is a serious concern," he said. Khullar also said gold imports, which contributed in increasing the bill, is expected to decline in the current fiscal (2012-13) due to the duties imposed by the government.