Export up 4.39% in June; trade deficit widens to $12.96 bn

RSTV Bureau

India’s export grew by 4.39 per cent to USD 23.56 billion in June as shipments of chemicals, engineering and marine products improved, according to the official data released on Friday.

Exports-imports-tradeImport too rose by 19 per cent to USD 36.52 billion in June from USD 30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.

A rise in import shot up the country’s trade deficit to USD 12.96 billion in the month under review from USD 8.11 billion in June 2016, the data released by the Commerce Ministry showed.

Gold import rose to USD 2.45 billion in June against USD 1.20 billion in the same month last year.

Oil import was valued at USD 8.12 billion in the month, an increase of 12.04 per cent over the same in June 2016.

Export in the first quarter of 2017-18 rose by 10.57 per cent to USD 72.21 billion while import surged 32.78 per cent to USD 112.2 billion, leaving a trade deficit of USD 40 billion.