Press Information Bureau

Government of India

Ministry of Commerce & Industry

13-July-2012 14:27 IST

Export Stood at US $ 25.07 Billion in June 2012 Trade Deficit Contracts in June

India’s exports for the month of June 2012 registered a decline of (-) 5.45%, at US $ 25.07 billion compared to June 2011 when it stood at US $ 26.51 billion. During June 2012, the imports were US $ 35.37 billion with a negative growth of (-) 13.46%. Balance of Trade stood at US $ 10.3 billion during the same period. The cumulative figure for the period of April-June 2012 shows exports at US $ 75.20 billion registering the negative growth of (-) 1.7%; while imports for the same period stood at US $ 115.26 billion registering the growth of (-) 6.10%.

During June 2012, the following sectors have done well with regard to exports in percentage terms – rice (104%), iron ore (40%), oil meal (38%) and spices (35%). In absolute terms, during April-June 2012 quarter, petroleum registered a growth of 12.9 billion, engineering goods (14.6 billion), jems & jewellery (10 billion), drugs (2.1 billion) and readymade garments 3.2 billion. In percentage terms, during the said quarter rice registered a growth of 73%, spices (32%), drugs (13.4%), oil meals (13.2%) and fruits & vegetable (9.53%).

As regards to imports during June 2012, the growth estimates on the following sectors are: Medicine (14.7 %); vegetable oil (8%); Iron & Steel (7.9%), professional equipments (8.5%), artificial raisin (5%). In terms of absolute value during the same period, petroleum registered a growth of 12.6 billion; gold & silver (1.9 billion); machinery parts (2.7 billion); pearls (1.8 billion) and electrical goods of 2.6 billion. During the April-June 2012, vegetable oil registered a growth of 49.8%, sulphur (37%), project goods (27%), transport equipments (21.6%), and artificial raisin (21.3%). In absolute terms during the quarter period of April-June 2012, petroleum registered a growth of 41.5 billion, gold & silver (9.4 billion); machineries (8.5 billion); pearls (4.6 billion) and electrical goods (7.1 billion).

The trade figures were released by the Department of Commerce in a media interaction today by Commerce Secretary Shri S R Rao and DGFT Dr. Anup K Pujari. Figures for the month of June 2012 are provisional and subject to change.

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DS

Trade deficit rises as exports decline while imports fall, underscoring shifting sectoral strengths in exports and imports. India's merchandise trade in June 2012 showed exports declining while imports fell by a larger extent, producing a monthly trade deficit; figures for June and the April-June quarter are provisional. Sectoral highlights identify rice, iron ore, oil meal and spices as strong exporters in June and petroleum, engineering goods, gems and jewellery, drugs and readymade garments as significant absolute contributors in the April-June quarter. On the import side, medicine, vegetable oil, iron and steel and professional equipment showed growth in June, with petroleum, gold and silver, machinery, pearls and electrical goods notable in absolute quarterly import values.