(MENAFN- KNN India) Merchandise exports in June fell 15.82 per cent to USD 22.28 billion compared to USD 26.47 billion in the same month last year. The exports fell for the seventh straight month mainly in the wake of weaker demand largely due to crisis in China and Greece.
In May, the rate of decline of exports was higher at 20.19 per cent.
Total exports in the first quarter of this financial year also plunged 16.75 per cent to USD 66.69 billion compared to USD 80.11 billion in the corresponding period last year, according to the trade data released here on Wednesday by the ministry of commerce and industry.
Imports in June, on the other hand, were 13.40 per cent lower reaching USD 33.11 billion compared to USD 38.24 billion. Cumulatively, imports saw a decline of 12.61 per cent at USD9.89 billion as against USD11.31 billion in June last year.
For the last couple of months, non-oil imports are also falling continuously. In May and June, non-oil imports declined 2.24 per cent and 1.85 per cent at USD24.76 billion and USD24.90 billion, respectively.
Gold imports in June came down by 36.96 per cent to USD1.96 billion compared to USD3.12 in June 2014.
In the last three months, non-oil non-gold imports have been more or less steady barring only May when it contracted 4.3 per cent. In April and June they registered a growth rate of 7.1 per cent and 3.2 per cent respectively. (KNN Bureau)
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