India’s exports drop by 5.45 percent in JuneAugust 1st, 2012 - 7:13 pm ICT by IANS
New Delhi, Aug 1 (IANS) India’s exports declined by 5.45 percent to $25.07 billion in June, registering a sharp drop for the second month in row due to weak demands in North America and European countries, government data showed Wednesday.
Imports slumped by 13.46 percent to $35.37 billion, leaving a trade deficit of $10.3 billion.
Cumulative value of exports for the period April-June 2012 was $75.20 billion as compared to $76.50 billion during the corresponding period of last year, registering a decline of 1.70 percent, according to data released by the ministry of commerce and industry.
The first three months’ data indicate exports are likely to remain sluggish in the coming months and the whole year target might fall substantially short.
The government has set a target of 20 percent growth in exports in the fiscal 2012-13.
Exports increased by 20.94 percent to $303.71 billion in financial year ended March 31, 2012, surpassing the government’s target of $300 billion.
Cumulative value of imports in the first three months of the current financial year was $115.25 billion, as compared to $122.74 billion recorded during the corresponding period last year, registering a drop of 6.10 percent.
Trade deficit during the first quarter of the current financial year also declined to $40.05 billion, from $46.23 billion recorded in the corresponding period of last fiscal.
Oil imports during June 2012 were valued at $12.68 billion, which was 4.43 percent lower than oil imports valued at $13.27 billion in the corresponding period last year.
Non-oil imports during June, 2012 were pegged at $22.68 billion, which was 17.80 percent lower year-on-year.
- India's exports slump 14.8 percent in July - Sep 03, 2012
- India's exports fall in May - Jul 02, 2012
- Exports dip by 5.45 percent; trade deficit narrows (Lead) - Jul 13, 2012
- India's exports rose 6.71 percent to $25 bn in December - Feb 01, 2012
- India's exports up 10.1 percent to $25.4 bn in January - Feb 09, 2012
- India's exports growth falls to 3.87 percent in November - Jan 02, 2012
- New measures soon to boost exports, investor confidence - Aug 28, 2012
- India's exports growth diminishes - Apr 02, 2012
- India's July exports dip 14 percent - Aug 14, 2012
- India's exports rise 26.5 percent in November - Jan 03, 2011
- India's May exports rise 56.93 percent - Jul 01, 2011
- India's exports surge 82 percent in July - Sep 01, 2011
- India's exports rise 36.4 percent in December - Feb 01, 2011
- India's exports rose 10 percent in January - Mar 01, 2012
- India's exports drop by 5.71 percent in March - May 01, 2012