By IANS,
New Delhi : India’s merchandise exports fell for the ninth straight month in June and were valued at $12.82 billion, down 27.7 percent over $17.73 billion registered in the like month of last year, the latest trade data showed Monday.
Imports, too, declined 29.3 percent in June, and were valued at $18.98 billion against $26.86 billion in the corresponding month of last year, showed the data release by the commerce and industry ministry.
Cumulatively, exports for the first quarter of this fiscal were down 31.3 percent at $35.43 billion, against $51.55 billion in the corresponding quarter of last fiscal. Imports were down 36.5 percent at $50.94 billion, against $80.19 billion.
Thus, the trade deficit for April-June 2009 was estimated at $15.50 billion against $28.64 billion during the like period of last fiscal.
Thanks to lower prices of crude oil in global markets, the country’s import bill on that count was as much as 50.6 percent lower in June. Such imports were valued at $5 billion, against $10.12 billion.
Cumulatively, such imports were down 56.8 percent during the first three months of this fiscal and were valued at $12.77 billion, against $29.54 billion in the like period of the previous fiscal.