Exports fall 4.6% in June; trade deficit declines
Moneylife Digital Team 12 July 2013

The main reason for the decline in imports and trade deficit was dip in gold and silver imports, Director General of Foreign Trade (DGFT) Anup Pujari said

India's exports contracted by 4.6%, for the second consecutive month, to $23.79 billion in June 2013 compared to that in the year-ago period.

 

Imports too declined marginally by 0.37% to $36 billion in the month, leading to a trade deficit of $12.2 billion. In May, the trade gap stood at $20.1 billion.

 

The main reason for the decline in imports and trade deficit was dip in gold and silver imports, Director General of Foreign Trade (DGFT) Anup Pujari said.

 

Gold and silver imports in June decreased to $2.45 billion from $8.4 billion in May.

 

Cumulatively, exports during April-May too dipped by 1.41% to $72.45 billion. However, imports during the period were up by 5.99% to $122.6 billion.

 

“Decline in gold and silver imports could be attributed to the steps taken by the government and the RBI,” Pujari said.

 

Oil imports in June grew by 13.74% to $12.76 billion from $11.22 billion in the same period last year. On the other hand, non-oil imports declined by 6.7% to $23.2 billion.

Comments
Free Helpline
Legal Credit
Feedback