New Delhi, Oct 11 (PTI): India's exports continued to decline for the fifth month, contracting 10.78 per cent to US$ 23.69 billion in September due to the slowdown in the western economies.
The exports in September 2011 had added up to US$ 26.56 billion.
However, imports grew by 5 per cent to US$ 41.77 billion from US$ 39.75 billion in September 2011, resulting in a trade deficit of USD 18 billion for the month.
The decline in the country's exports comes amid India's economic growth slipping to 5.5 per cent in the first quarter of this fiscal and subdued industrial output.
In April-September, too, the exports dipped by 6.79 per cent to US$ 143.6 billion from US$ 154.1 billion in the same period last year.
During the first six months of the fiscal, imports contracted by 4.36 per cent to US$ 232.92 billion. Trade deficit during the period stood at US$ 89.25 billion.
Oil imports during September increased 30.74 per cent to US$ 14.09 billion from US$ 10.77 billion in the corresponding period last year. Oil imports during April-September 2012-13 grew by 6.78 per cent to US$ 80.78 billion.
Non-oil imports during the month under review dipped 4.46 per cent to US$ 27.68 billion. During the first six months of the fiscal, the imports contracted by 9.38 per cent to US$ 152.14 billion.