SME Times News Bureau | 01 Aug, 2012
Country's exports contracted for the second consecutive
month in June by 5.45 percent, year-on- year, to USD 25 billion on account of
growing economic uncertainties.
Cumulative value of exports for the period
April-June 2012-13 was USD 75203.96 million as against USD 76507.51 million
registering a negative growth of 1.70 percent
in dollar terms and growth of 18.97 percent in Rupee terms over the same period
last year, said exports data released by the Commerce Ministry on
Imports dipped more sharply, by 13.46 percent to USD
35.37 billion during the month, compared to USD 40.8 billion in June 2011,
resulting in a narrower trade deficit of USD 10.3 billion.
According to the data, imports during the quarter dipped by 6.10 percent to USD
115.25 billion from USD 122.74 billion in the first quarter of 2011-23 fiscal.
Trade deficit during the quarter stood at USD 40 billion.
Oil and non-oil imports during June too declined by 4.43 percent and 17.80
percent to USD 12.68 billion and USD 22.68 billion respectively.
During the April-June period, oil imports were valued at USD 41.58 billion,
which was 5.48 per cent higher than USD 39.42 billion in the corresponding
period last year.
Non-oil imports during the quarter declined by 11.57 percent to USD 73.67