According to the data released by the Commerce Ministry on 1 August
2012 India’s exports in June slipped by 5.45 per cent, year-on- year, to
25 billion dollar on account of sluggish global economy.
Imports dipped more sharply, by 13.46 per cent to 35.37 billion
dollar during the month, compared to 40.8 billion dollar in June 2011,
resulting in a narrower trade deficit of 10.3 billion dollar.
The data reveled that, exports during the April-June quarter of
fiscal year 2012-13 dipped by 1.7 per cent to 75.2 billion dollar, from
76.5 billion dollar during the corresponding period of fiscal year
2011-12. Imports during the quarter also witnessed a slump as it dipped
by 6.10 per cent to 115.25 billion dollar from 122.74 billion dollar in
the same quarter of 2011-12.
Trade deficit during the April June quarter stood at 40 billion
dollar, which was lower than the deficit of 46 billion dollar during
April -June, 2011-12.
The decline in exports and imports is largely attributed to
pessimistic economic environment world over. State of economic
uncertainties in western economies has added to the woes of ailing world
trade.
