August 1, 2012 8:59 PM

printer

India's export growth declines 5.45 % cent in June

Hit by slowdown in the Western markets, India's export growth declined 5.45 per cent in June for the second month in a row, to 25 billion US Dollars. Besides, reflecting slowdown in the domestic economy, imports too dipped sharply by 13.46 per cent to USD 35.37 billion, from USD 40.8 billion in June 2011, resulting in a narrower trade deficit of USD 10.3 billion for the month.The decline in the country's shipments comes amid India's economic growth slipping to 9-year low of 6.5 per cent in 2011-12, and subdued industrial output in the first two months of the current fiscal.According to the data released by the Commerce Ministry today, exports during the April-June quarter of 2012-13 fiscal dipped by 1.7 per cent to USD 75.2 billion, from USD 76.5 billion in the same period last fiscal. Commerce Secretary S R Rao said, the markets in theeuro zone, the US, China and Japan are still not showinghealthy growth and these are signs of global recession. Imports during the first quarter of this fiscal dipped by 6.10 per cent to USD 115.25 billion, from USD 122.74 billion in the April-June period of last fiscal. Trade deficit during the quarter stood at USD 40 billion.

Most Read
View All arrow-right

No posts found.