India's Trade deficit falls to $10 Billion in June

India’s exports for the month of June 2012 registered a decline of (-) 5.45%, at US $ 25.07 billion compared to June 2011 when it stood at US $ 26.51 billion. During June 2012, the imports were US $ 35.37 billion with a negative growth of (-) 13.46%. Balance of Trade stood at US $ 10.3 billion during the same period. The cumulative figure for the period of April-June 2012 shows exports at US $ 75.20 billion registering the negative growth of (-) 1.7%; while imports for the same period stood at US $ 115.26 billion registering the growth of (-) 6.10%. During June 2012, the following sectors have done well with regard to exports in percentage terms – rice (104%), iron ore (40%), oil meal (38%) and spices (35%). In absolute terms, during April-June 2012 quarter, petroleum stood at 12.9 billion, engineering goods (14.6 billion), gems & jewellery (10 billion), drugs (2.1 billion) and readymade garments 3.2 billion. In percentage terms, during the said quarter rice registered a growth of 73%, spices (32%), drugs (13.4%), oil meals (13.2%) and fruits & vegetable (9.53%). As regards to imports during June 2012, the growth estimates on the following sectors are: Medicine (14.7 %); vegetable oil (8%); Iron & Steel (7.9%), professional equipments (8.5%), artificial resin (5%). In terms of absolute value during the same period, petroleum stood at 12.6 billion; gold & silver (1.9 billion); machinery parts (2.7 billion); pearls (1.8 billion) and electrical goods of 2.6 billion. During the April-June 2012, vegetable oil registered a growth of 49.8%, sulphur (37%), project goods (27%), transport equipments (21.6%), and artificial resin (21.3%). In absolute terms during the quarter period of April-June 2012, petroleum stood at 41.5 billion, gold & silver (9.4 billion); machineries (8.5 billion); pearls (4.6 billion) and electrical goods (7.1 billion). The trade figures were released by the Department of Commerce in a media interaction today by Commerce Secretary Shri S R Rao and DGFT Dr. Anup K Pujari. Figures for the month of June 2012 are provisional and subject to change.