June exports down 5.45%: Govt

Jul 13, 2012 |

Reuters

New Delhi

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India's exports fell 5.45 per cent to $25.1 billion in June, while imports fell 13.46 per cent to $35.3 billion, leaving a trade deficit of $10.3 billion, a senior trade ministry official said on Friday.

Exports between April and June fell 1.7 per cent, totalling $75.2 billion, Anup Pujari, director general of foreign trade told reporters.

After recording strong growth for much of last year, India's overseas sales have tanked, with officials blaming weak demand in the United States and Europe for the fall.

Weak exports and widening trade and current account deficits have added to India's current economic gloom, as growth has slowed to its worst pace in nine years.

India's current account deficit touched a record high in the March quarter, keeping the balance of payments in deficit for the second quarter in a row.

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