Exports face seventh straight dip at $22.29 bn in June

India's merchandise exports contracted for the seventh straight month in June, government data showed on Wednesday, marking a 16 per cent drop year-on-year because of a slump in global demand.

The trade deficit widened to $10.82 billion last month from $10.41 billion in May, the data released by the Ministry of Commerce and Industry showed.

Imports fell 13.4 per cent from a year earlier to $33.12 billion in June, while exports stood at $22.29 billion, the data showed.

The trade balance in Services (i.e. net export of Services) for May, 2015 was estimated at $5556 million.

(Reuters)