Falling for the seventh straight month, the country's exports plunged 15.8 per cent in June, year-on-year, to 22.3 billion dollars. Exports fell due to the global slowdown, and a fall in crude oil prices that impacted shipments of petroleum products. According to data released by the Commerce Ministry, imports declined 13.4 per cent, to 33.1 billion dollars in June, amid a fall in oil and gold shipments. The trade deficit narrowed to 10.8 billion dollars in June, from 11.8 billion in the same month a year ago. Exports in petroleum products contracted 53 per cent in June. Oil imports plummeted almost 35 per cent in June, while gold imports slumped almost 37 per cent.
News On AIR | July 15, 2015 9:06 PM
Exports dip 15.82 per cent in June to USD 22.3 billion