New Delhi, Oct 15 (KNN) India’s trade deficit has widened to USD 14.25 billion in September 2014, which is more than double of USD 6.12 billion deficit in September 2013, mainly due to gold import surge of more than five-fold to USD 3.75 billion in September this year.

India's merchandise exports rose 2.7 per cent to USD 28.90 billion in September 2014. However, the merchandise imports surged at more than two-and-half year pace of 26 per cent to USD 43.15 billion in September 2014.

Thus, the trade deficit more than doubled to USD 14.25 billion in September 2014 from USD 10.84 billion in August 2014.

The growth in merchandise imports mainly contributed by five-fold jump in gold import to USD 3.75 billion, while oil imports also increased 9.7 per cent to USD 14.5 billion in September 2014.

The imports of electronic goods also increased to 18.4 per cent to USD 3.48 billion.

Exports growth in September 2014 was mainly driven by 20.2 per cent jump in engineering goods exports to USD 6.49 billion, while exports also moved up for gems and jewellery 11.1 per cent to USD 4.4 billion, readymade garments 15.9 per cent to USD 1.29 billion, rice 17.7 per cent to USD 0.69 billion, organic and inorganic chemicals 7.1 per cent to USD 1.12 billion.

For April-September period, exports stood at USD 163.70 billion versus USD 153.75 billion (YoY), while imports stood at USD 234.10 billion versus USD 230.48 billion (YoY). The trade deficit for the same period stood at USD 70.4 billion versus USD 76.72 billion (YoY). (KNN/SD)