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Rediff.com  » Business » India's June exports rise after falling for 18 months

India's June exports rise after falling for 18 months

Source: PTI
Last updated on: July 15, 2016 20:38 IST
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Exports have been falling since December 2014 due to weak global demand and slide in oil prices

Snapping 18-month downward spiral, India's exports in June rose 1.27 per cent to $22.57 billion.

Rising exports and decline in imports also brought down the trade deficit in June to $8.11 billion as against $10.82 billion in the year-ago month.

India's exports in June 2015 stood at $22.28 billion.

Exports have been falling since December 2014 due to weak global demand and slide in oil prices.

 

As per the data released by the commerce and industry ministry, imports in June were at $30.68 billion, down 7.33 per cent from $33.11 billion in the year-ago month.

Imports of petroleum, crude and related products were down 16.42 per cent in June while that of coal, coke and briquettes shrunk by about 13 per cent.

In value terms, imports of fertilisers too were down by 22.77 per cent at $712.36 million. Gold import was recorded at $1.20 billion in June, a decline of 38.54 over the year-ago period.

On the export front, there was increase in exports of organic and inorganic chemicals (14.36 per cent), engineering goods (0.88 per cent), and plastic and linoleum (10.6 per cent).

Cumulative value of merchandise exports for the period April-June 2016-17 was $65.31 billion as against $66.69 billion, a decline of 2.07 per cent.

Overall imports in the first quarter of the fiscal stood at $84.54 billion, down 14.53 per cent year-on-year.

The trade deficit for April-June was estimated at $19.23 billion, lower than the deficit of $32.225 billion in the corresponding period last fiscal.

In case of services, exports (receipts) during May were valued at $13.46 billion, registering a growth of 4.28 per cent, and imports stood at $7.92 billion, a growth of 10.29 per cent.

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