Exports grew in double digits for the second month in a row in June at 10.22%, but a rise in gold imports pushed the trade deficit to 11-month high of $11.76 billion. Exports in June stood at $26.47 billion as compared to $24.02 billion in the same month last year. The sectors that put up a good show include textiles (14.39%), petroleum products (38.3%), engineering (21.57%), leather (15%t), marine products (27.49%), oil seeds (44.4%) and tobacco (31%). Imports increased by 8.33% year-onyear to $38.24 billion in June.
According to exporters’ body Fieo, outbound shipments have registered double-digit growth on account of
improvement in the global demand. In April-June period, exports grew by 9.31% to $80.11billion. The 10.22% growth in June, however, is lower than the 12.4% expansion witnessed in May.
The trade deficit rose in June as gold imports jumped 65.13% to $3.12 billion from $1.88 billion in the same month last year, after registering a negative growth since October last year.
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