New Delhi: India's exports grew by a mere 3.2 percent year-on-year to USD 24.4 billion in April 2012 mainly due to demand slowdown in western markets like Europe.
Exports stood at USD 23.6 billion in April last year, according to data released by the Commerce Ministry at New Delhi on Friday.
Imports during the first month of the current fiscal grew 3.8 percent to USD 37.9 billion, leaving a trade deficit of USD 13.4 billion.
The sectors which registered healthy export growth in April include engineering, electronics, pharmaceuticals and chemicals.
However, exports of gems and jewelleries contracted by 25.7 percent to USD 2.6 billion.
In April 2012, the country's oil imports grew by about 7 per cent to USD 13.9 billion compared to the same period last year.
Non-oil imports grew 2 percent year-on-year to USD 24 billion during the period.
During 2011-12, India's overall exports grew 21 percent and marginally crossed the export target at USD 303.7 billion over the previous fiscal.
Imports shot up by 32.1 percent to USD 488.6 billion in the last fiscal, ending the fiscal with the highest-ever trade deficit of USD 184.9 billion.


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