03 August,2009 01:25 PM IST | | PTI
India's exports declined by 27.7 per cent in June over the same month last year, contracting for the ninth month in a row, as overseas shipments were hit by a slowdown in major global markets like the US and Europe.
Exports dropped to $12.81 billion in June from $17.73 billion in the same month last year, according to the government data released on Monday.
Imports too dipped for the sixth straight month by 29.3 per cent to $18.97 billion in June over the year-ago month. Trade deficit was $6.16 billion in the third month of the financial year 2009-10 against $9.12 billion in June 2008.
Exports plunged by 29.2 per cent to $11.01 billion in May from $15.55 billion in the year-ago period. The exports during April-June period dipped by 31.3 per cent to $35.43 billion from $51.54 billion in the same period last year.
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Overseas shipments grew by a meagre 3.4 per cent to USD 168.7 billion in 2008-09 after being hit by the global slowdown in the second half of the previous fiscal.
