Exports dip 5.45 per cent in June, imports down 13.46 per cent

Growing economic uncertainties in the western market hit India' exports for the second consecutive month , dropping 5.45 per cent year-on-year in June to $25 billion.

Imports dipped more sharply - 13.46 per cent to $35.37 billion - during the month, compared to $40.8 billion in June 2011, resulting in a narrower trade deficit of $10.3 billion.

According to the data released by the Commerce Ministry on Wednesday, exports during the April-June quarter of 2012-13 fiscal dipped by 1.7 per cent to $75.2 billion, from $76.5 billion in the same period last fiscal.

Imports during the quarter dipped by 6.10 per cent to $115.25 billion from $122.74 billion in the first quarter of 2011-23 fiscal.

Trade deficit during the quarter stood at $40 billion.

India's Commerce Secretary S R Rao has said that exports are declining because the world over there has been a tremendous dip in trade, in view of global economic slowdown.

Oil and non-oil imports during June, too, declined by 4.43 per cent and 17.80 per cent to $12.68 billion and $22.68 billion respectively.

During the April-June period, oil imports were valued at $41.58 billion, which was 5.48 per cent higher than $39.42 billion in the corresponding period last year.

Non-oil imports during the quarter declined by 11.57 per cent to $73.67 billion.