Trade deficit narrows to $18.78bn

India's June merchandise trade deficit stood at $18.78 billion, lower than economists’ expectations. Despite trade tensions, government is actively pursuing structural reforms, negotiating FTAs to boost exports

- 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 Tuesday.

Exports in June last year were at $35.16 billion.

Imports declined 3.71 per cent 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.