New Delhi: India's merchandise exports fell 9.7% on year to $25.01 billion in June compared to USD 27.7 billion in the same month last year due to a fall in shipments of gems and jewellery, engineering goods and petroleum products, official data released Monday showed.
Meanwhile, imports also declined 9.1% to $40.29 billionagainst USD 44.3 billion in June 2018 mainly due to falling prices of petroleum products, an official release said.
As a result, the trade deficit lowered to $15.28 billion from $16.60 billion last year, the result said. Within imports, oil imports were down 13.3% at $11.03 billion thanks to the global price of Brent oil decreasing 15.8% on year in June.
However, gold imports rose marginally to $2.69 billion from $2.30 billion, an official from the Ministry of Commerce and Industry said. For the first quarter of 2019-20 (Apr-Jun), imports stood at $127.04 billion, down 0.3% on year.
