Exports up 3.98 per cent to $312.35 billion in 2013-14

New Delhi: India's exports grew by 3.98 per cent to $312.35 billion in FY 2013-14 while imports dipped by 8.11 per cent during the period.

Imports declined to $450.94 billion, narrowing the trade deficit to $138.59 billion in the last fiscal. In FY 2012-13, trade deficit stood at $190.33 billion.

However, in March exports contracted by 3.15 per cent to $29.57 billion and imports fell by 2.11 per cent to $40 billion as compared to the same period last year.

Trade deficit during the month was at $10.5 billion as against $10.4 billion in March 2013.

In FY 2012-13, the country's merchandise exports had aggregated at $300.4 billion.

The overall shipments in 2013-14 fell short of the target of $325 billion fixed by the government for the period.