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India`s export up 4.39 % in June; trade deficit widens

NEW DELHI: India's export grew by 4.39 per cent to $ 23.56 billion in June as shipments of chemicals, engineering and marine products improved, according to the official data released today.

Import too rose by 19 per cent to $ 36.52 billion in June from $ 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 $ 12.96 billion in the month under review from $ 8.11 billion in June 2016, the data released by the Commerce Ministry showed.

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

Oil import was valued at $ 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 $ 72.21 billion while import surged 32.78 per cent to $ 112.2 billion, leaving a trade deficit of $ 40 billion.

Source: The Times of India Business
Added On: 2017-07-17