Saturday, August 4, 2012

Exports reduce by 5.45% in June 2012

India's export growth declined 5.45 per cent in June for the second month in a row, to $25 billion.

Besides, reflecting slowdown in the domestic economy, imports too dipped sharply by 13.46 per cent to $35.37 billion, from $40.8 billion in June 2011, resulting in a narrower trade deficit of $10.3 billion for the month.

According to the data released by the Commerce Ministry on Wednesday, exports during the April-June quarter of 2012-13 fiscal dipped by 1.7 per cent to $75.2 billion, from $76.5 billion in the same period last fiscal.

Commerce Secretary S R Rao has said the markets in the euro zone, the US, China and Japan are still not showing healthy growth and these are signs of global recession.

Imports during the first quarter of this fiscal dipped by 6.10 per cent to $115.25 billion, from $122.74 billion in the April-June period of last fiscal.

Trade deficit during the quarter stood at $40 billion.

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