March exports decline 0.66% to $29.11 bn; trade deficit widens to $13.69 bn

For full financial year, deficit stood at $156.83 bn, up from $108.50 bn in 2016-17, mainly due to rise in oil import bill

Exports fell in March due to a contraction in refinery products, gems and jewellery and textiles, but managed to cross the $300-billion target for the first time in two years in 2017-18. A decline in the growth rate for three straight months till February led to a 0.66 per cent fall in exports in March. The growth rate had slipped to 4.48 per cent in February, down from 30.5 per cent in November.

According to data released by the commerce and industry ministry on Friday, exports stood at $29.11 billion in March, taking the total tally in 2017-18 to $302.84 billion,