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.
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.
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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.
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.
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