India’s exports up 23.5 percent in June

August 1st, 2008 - 6:43 pm ICT by IANS  

New Delhi, Aug 1 (IANS) India’s merchandise exports were up 23.5 percent in June at $14.66 billion from $11.87 billion in the like month of last fiscal, latest trade data showed Friday. Cumulative value of exports for the first quarter of this fiscal were valued at $42.85 billion, up 22.3 percent over $35.03 billion during the corresponding three months of the previous fiscal.

Imports, on the other hand were up 25.9 percent at $24.45 billion in June over $19.42 billion, while their cumulative value for the first quarter was higher by 29.7 percent at $73.28 billion against $56.51 billion.

Oil imports continued to outpace the overall growth and shot up by 53.4 percent in June at $9.03 billion, compared with $5.89 billion during the corresponding month of last fiscal.

The country’s trade deficit, accordingly, also widened to $30.43 billion during April-June this year from $21.47 billion during the corresponding quarter of last fiscal.

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