Responding to the policy measures taken in the first quarter of 2012, expenditure on imports recorded its first full month decline in April 2012.

Expenditure on imports recorded a year-on-year decline of 3.3 per cent to US dollars 1,441 million in April 2012, for the first time in 25 months.

Earnings from exports recorded a year-on-year decline of 9.2 per cent to US dollars 680 million in April 2012 largely due to lower international market prices for several major export items.

The trade deficit for the month of April 2012 grew moderately by 2.6 per cent, year-on-year, to US dollars 761 million, decelerating at a rapid pace for the third consecutive month, and recording the lowest increase in 17 months.