The value of merchandise exports surged by 49.8% year on year to US$23.6bn in February, according to data from the Ministry of Commerce. Exports in the first 11 months of 2010/11 rose by 31.4%, to US$208bn. With only one month of data still to come for the current fiscal year, export values are expected to meet or exceed the government's target of US$220-225bn (revised up from US$200bn originally) in 2010/11. The surge in exports is particularly welcome at a time when rising food and oil imports have put pressure on the trade and current-account deficits. The commerce secretary, Rahul Khullar, has said that the current-account deficit will probably stand at 2.5-2.8% of GDP in 2010/11. The value of merchandise imports in February was up 21.2% year on year, to US$31.7bn. Imports from April 2010 to February 2011 were up by 18%, to US$305bn. Mr Khullar expects a trade deficit in the range of US$105-115bn in 2010/11 as a whole.