India's exports and imports declined for the second consecutive month in June due to the global economic slowdown and a fall in the prices of oil.
Exports fell by 5.45 percent to $25 billion while imports declined sharply by 13.46 percent to $35.37 billion, according to the data released by the Ministry of Commerce.
In the April-June quarter of the current fiscal year, exports dipped by 1.7 percent to $75.2 billion from $76.5 billion in the same period last year while imports fell 6.10 percent to $115.25 billion from $122.74 billion in the same quarter last year.
The trade deficit in the first quarter of this year narrowed to $40.00 billion, compared to the $46.23 billion deficit in the same period last year.
Oil imports in June stood at $12688.6 million, down 4.43 percent compared to $13276.9 million in the corresponding period last year. Non-oil imports in June declined by 17.80 percent to $22681.9 million, compared to the non-oil imports of $ 27593.2 million in the same month in 2011.