HOME > BUSINESS > India’s imports, exports decline in June; trade gap narrows

India’s imports, exports decline in June; trade gap narrows

In keeping with recent trends, India’s exports dipped again in June, this time by 5.5%.

June exports were US $25.07 billion.

Thankfully, imports too dipped, faster than exports.

Imports were US $ 35.37 billion with a negative growth of (-) 13.46%.

Balance of Trade was comfortable at US $ 10.3 billion, compared to $13-14 billion seen in some recent months.

The cumulative figure for the period of April-June 2012 shows exports at US $ 75.20 billion registering the negative growth of (-) 1.7%; while imports for the same period stood at US $ 115.26 billion registering the growth of (-) 6.10%.

During June 2012, the following sectors have done well with regard to exports in percentage terms – rice (104%), iron ore (40%), oil meal (38%) and spices (35%).

In absolute terms, during April-June 2012 quarter, petroleum registered a growth of 12.9 billion, engineering goods (14.6 billion), jems & jewellery (10 billion), drugs (2.1 billion) and readymade garments 3.2 billion.

In percentage terms, during the said quarter rice registered a growth of 73%, spices (32%), drugs (13.4%), oil meals (13.2%) and fruits & vegetable (9.53%).

In imports, the growth estimates on the following sectors are: Medicine (14.7 %); vegetable oil (8%); Iron & Steel (7.9%), professional equipments (8.5%), artificial raisin (5%). In terms of absolute value during the same period, petroleum registered a growth of 12.6 billion; gold & silver (1.9 billion); machinery parts (2.7 billion); pearls (1.8 billion) and electrical goods of 2.6 billion.

During the April-June 2012, vegetable oil registered a growth of 49.8%, sulphur (37%), project goods (27%), transport equipments (21.6%), and artificial raisin (21.3%). In absolute terms during the quarter period of April-June 2012, petroleum registered a growth of 41.5 billion, gold & silver (9.4 billion); machineries (8.5 billion); pearls (4.6 billion) and electrical goods (7.1 billion).

Follow ULTRA.news