Exports grow for tenth consecutive month, but this time at a slower pace

New Delhi, July 15 (KNN) Exports in June registered growth marking the tenth month positive trend in a line, However the rate at which the exports occurred for this month slowed down to 4.39 per cent .

According to the data released by the Commerce and Industry Ministry, the figure for June this year stood at 23.56 billion dollars as compared to 22.57 billion dollars from June last year. The major drop in exports is from sectors including pharmaceuticals, leather and gems and jewellery.

Whereas commodities including engineering goods, petroleum products, organic and inorganic chemicals, rice and marine products registered positive trend in exports this month.

Also the data reveals that the cumulative value of exports for April-June stood at $72212.33million (Rs 465472.04 crore) as against to US $65311.77 million (Rs 436960.98 crore) registering a positive growth of 10.57 per cent in Dollar terms and 6.52 per cent in Rupee terms over the same period last year.

Imports registered a rise of 19 per cent amounting to 36.52 billion in June. The figures indicate that the country has imported more of petroleum, crude, electronics, pearls and precious stones, machinery and gold imports.

The Data further reveals that cumulative trade deficit in June rose to 40 billion dollars, also experts indicate that the current account deficit might rise to 15 billion dollars in the first quarter of FY18. (With PIB Inputs)