American imports rise to $4 billion.
By Global India Newswire
WASHINGTON, DC: The U.S-India bilateral trade in goods surged to $5.7 billion in April, the highest since August 2012, according to new monthly data released by the Department of Commerce Tuesday.
American imports from India rose to $4 billion in April, making it only the second month on record the U.S. imports crossed that mark, the first being last July, when the United States imported goods worth $4.1 billion from India.
The U.S. exports to India totaled more than $1.6 billion. The $2.4 billion balance of trade in favor of India was the highest ever between the two countries in a single month.
In the first four months of the year, U.S. exports totaled $6.8 billion and its imports reached $17.7 billion. The bilateral trade is on pace to surpass the figures of last year, when the two countries traded in goods worth $62.6 billion.
According to the Embassy of India in Washington, precious stones and metals, textiles and pharmaceutical products comprised more than half of the Indian exports of the United States in the first quarter of the current year.
Precious stones and metals and machinery were among the major items the United States exported to India.
In April, India was the United States’ 10th largest trading partner, accounting for 1.8 percent of its overall trade. Canada was America’s top trading partner for the month, followed by Mexico and China.
April also saw the U.S. trade deficit against China widening by another $24 billion.
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