Exports in June dropped to $3.29 billion registering a 4.63 per cent decline compared to $3.45 billion in June 2000. The decline in exports, which has happened for the first time in the last 18 months, has pulled down the exports growth in the first quarter of 2001-02 to a mere 1.76 per cent over the previous quarter.
According to the commerce department data released today, exports in the first quarter of the current fiscal are valued at $10.52 billion compared to $10.34 billion in the corresponding period in the last financial year.
During January 2000, exports had decreased by 3.71 per cent over the corresponding period in the previous year.
Imports during June, however, were marginally up by 0.56 per cent at $4.01 billion compared to $3.99 billion in June 2000.
For the first quarter though, imports registered a negative growth of 2.4 per cent to $12.44 billion as against $12.75 billion in the corresponding period last year. In the first quarter of the current fiscal, even oil imports are down 0.97 per cent to $3.89 billion as against $3.93 billion last year. Non-oil imports also decreased by 3.03 per cent to $8.55 billion.
As a result of the decrease in imports and marginal growth in exports for the first quarter, trade deficit is lower at $1.92 billion in the first quarter of the current fiscal as against the deficit of $2.41 billion in the same period last year.
