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Following eighteen months of continuous decline, goods exports from India posted a growth of 1.27 per cent (year-on-year) in June 2016 to $ 22.57 billion.
Imports during the month, at $ 30.68 billion, were 7.33 per cent lower, narrowing the trade deficit to $ 8.11 billion compared to $10.82 billion in the same month last year, according to data released by the Commerce Ministry on Friday.
Non-petroleum exports recorded a positive growth of 3.06 per cent in June 2016 at $ 19.99 billion.
Oil import during June 2016 at $ 7.25 billion was 16.42 per cent lower than oil imports in June last year due to low global prices. Non-oil import during the month at $ 23.43 billion was 4.11 per cent lower than the same month last year.
Total exports in April-June 2016-17 were $ 65.31 billion which was 2.07 per cent lower than exports in the same period last year. Total imports during April-June 2016-17 were valued at $ 84.54 billion which was 14.53 per cent lower than the comparable period of the previous year.
The trade deficit for April-June 2016-17 estimated at $ 19.23 billion was lower than the deficit of $ 32.22 billion during April-June, 2015-16.
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