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March trade deficit widens to USD 11.79 billion; 2014/15 exports edge down

Merchandise exports declined for the fourth straight month to $23.95 billion in March, compared with $30.34 billion a year earlier, underscoring risks to growth prospects.

Photo for representational purpose only (Source: Reuters) Photo for representational purpose only (Source: Reuters)

Country's trade deficit widened in March to $11.79 billion, its highest in four months as exports continued to fall, data showed on Friday, underscoring pressure on the rupee.

Merchandise exports declined for the fourth straight month to $23.95 billion in March, compared with $30.34 billion a year earlier, underscoring risks to growth prospects, data released by the Ministry of Commerce and Industry showed.

For the full 2014/15 fiscal year that ended in March, the trade deficit stood at $137 billion, compared with $135.8 billion in the previous year.

(Reuters)