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Trade deficit narrows to $12.25 billion June 2013

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Capital Market
Last Updated : Jul 12 2013 | 5:10 PM IST
India's merchandise export declined at accelerated pace of 4.6% to $23.79 billion in June 2013, after 1.1% fall recorded in May 2013. However, the merchandise imports also declined 0.4% to $36.04 billion in June 2013, snapping surge for last two-months. The decline in imports helped trade deficit to narrow to $12.25 billion in June 2013 from $20.14 billion in May 2013.

The decline in merchandise imports was led by 6.7% dip in non-oil imports to $23.27 billion, as the oil imports surged 13.7% to $12.77 billion in June 2013. The oil import share in total imports increased to 35.4% in June 2013 compared to 31.04% in June 2012.

The merchandise exports in Rupee terms declined 1.1% to Rs 138901.73 crore, while imports 6.2% to Rs 210433.14 crore in June 2013 over June 2012. The trade deficit stood at Rs 71531.41 crore in June 2013 compared to Rs 57729.95 crore in June 2012.

India's merchandise exports has declined 1.4% to $72.46 billion in the quarter ended June 2013 (April-June 2013), in addition to 3.9% dip recorded in the corresponding quarter of last year (April-June 2012). On the other hand, India's merchandise imports galloped 6.0% to $122.64 billion in April-June 2013, against 5.7% dip recorded in April-June 2012. The increase in imports was driven by 5.8% surge in non-oil imports to $80.76 billion in April-June 2013.

With the decline in exports, India's merchandise trade deficit surged to $50.18 billion in April-June 2013 from $42.22 billion in April-June 2012. Trade deficit as a percentage of GDP increased to 2.5% in April-June 2013 up from 2.2% in April-June 2012.

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First Published: Jul 12 2013 | 4:58 PM IST

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