August 1, 2012 11:21 AM

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India's exports contracts in June by 5.45 %

India's exports contracted for the second consecutive month in June by 5.45 per cent, year-on- year, to 25 billion US Dollars on account of growing economic uncertainties in the Western markets.Imports dipped more sharply, by 13.46 per cent to 35.37 billion US Dollars during the month, compared to 40.8 billion US Dollars in June 2011, resulting in a narrower trade deficit of 10.3 billion US Dollars .The data released by the Commerce Ministry today shows that exports during the April-June quarter of 2012-13 fiscal dipped by 1.7 per cent to 75.2 billion US Dollars , from 76.5 billion US Dollars in the same period last fiscal. Commerce Secretary S R Rao has said that exports aredeclining because the world over there has been a tremendous dip in trade, in view of global economic slowdown.Oil and non-oil imports during June too declined by 4.43 per cent and 17.80 per cent to 12.68 billion US Dollars and 22.68 billion US Dollars .

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