Exports grow by over 30% in June

India's exports grew by a healthy 30.4 per cent in June to $17.75 billion, Commerce Secretary Rahul Khullar said here on Monday.

In June 2009, exports had shrunk by 27.7 per cent to $12.81 billion under the impact of global slowdown.

Imports increased by 23 per cent to $28.3 billion in June this year and the trade deficit for the month was $10.55 billion.

"It is good news but still not great news," Khullar told reporters, adding that the exports have still not reached the level of the pre-global economic crisis period.

In June 2008, the country's exports were $19.2 billion.

In the first quarter ended June this fiscal, exports stood at $50.8 billion showing a growth of 32.2 per cent over the year ago period.

Imports during the period grew by 34 per cent to $83 billion leaving the country with the trade deficit of $32.2 billion.

The global economy slipped into major crisis from September-October 2008, impacting India's exports particularly to the developed markets. While the exports have recovered following turnaround in the global economy, they are still below the level of 2007-08 and first half of the fiscal 2008-09.