New Delhi, Aug 01: As the debt crisis in eurozone is not showing any sign of easing and the US economy is struggling to gain momentum India exports in June dropped 5.45% to $25.07 billion against $26.51 billion during June, 2011.
However, in rupee term the India's export grew 17.64% in the month to Rs 1.4 trillion against Rs 1.19 trillion in same month a year ago, benefiting from the weakening of rupee against the dollar.
During first quarter (April-June) of fiscal 2012-13, India's exports declined 1.7% to $75.20 billion as against $76.50 billion in the same month a year ago. In rupee terms exports during the period grew 18.97% to Rs 4.07 trillion against Rs 3.42 trillion in same period previous year.
As the domestic economy is also heading towards slowdown, India's imports also declined declined by 13.46% in June to $ 35.37 billion from $40.87 billion in the same month a year ago. However, in rupee terms the country's imports grew 8.11% on-year to Rs 1.98 trillion from Rs 1.83 trillion in corresponding month last year.;
During first quarter (April-June) of fiscal 2012-13, India's imports declined 6.1% to $115.26 billion as against $122.74 billion in the same month a year ago. In rupee terms imports during the period grew 13.53% to Rs 6.2 trillion against Rs 5.4 trillion in same period previous year.
India's oil imports bill in June, 2012 was 4.43% lower at $12.69 billion as against $13.28 billion in the corresponding period last year. During first quarter oil imports were valued at $41.58 billion, up 5.48% from $39.42 billion in the corresponding period last year.
Non-oil imports during June, 2012 were at $22.68 billion, down 17.80% from $27.6 billion in June, 2011. For the April-June period non-oil imports stood at $73.67 billion, down 11.57% from $83.32 billion in the same period last fiscal.
India's trade deficit for April-June period of 2012-13 stood at $40 billion, which was lower than the deficit of $46.23 billion in same period a year ago.