June trade deficit narrows to 4-month low of $18 bn

Imports decline 3.71% to $53.92 billion due to fall in the inbound shipments of crude oil

- Press Trust of India

India’s exports remained flat at $35.14 billion in June due to global economic uncertainties, while trade deficit narrowed to a four-month low of $18.78 billion during the month, the government data showed on Tuesday.

Exports in June last year were at $35.16 billion.

Imports declined 3.71% year-on-year to $53.92 billion during the month due to fall in the inbound shipments of crude oil and gold.

Key export sectors, including petroleum, fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee, recorded negative growth during the month under review.

The shipments of petroleum products dipped 15.92% to $4.61 billion in June, and 15.63% to $17.4 billion during the first quarter.