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Exports Up By 46.4 PC In June

PTI 01 Aug 2011, 15:00:29 IST

New Delhi, Aug 1 :  India's exports grew by an impressive 46.45 per cent to USD 29.21 billion in June, 2011, despite uncertainty in the US and European markets.

Merchandise exports aggregated to USD 19.94 billion in June, 2010.

During the April-June quarter, overseas shipments grew by 45.7 per cent to USD 79 billion, according to Commerce Ministry data released today.

Though most sectors posted robust expansion -- be it petroleum products, ready-made garments, engineering or pharmaceuticals -- Commerce Secretary Rahul Khullar sounded a cautionary note, saying that news from the largest two markets -- the US and Europe -- "is far from cheerful... Summer is not over. It is still not going to be easy".

The US and Europe together account for about 35 per cent of the country's exports, which stood at USD 246 billion in 2010-11.

Though imports grew by 42.4 per cent to USD 36.8 billion in June, the trade deficit of USD 7.6 billion was almost half the level of USD 14.9 billion seen in May, lessening concerns over the country's balance of payments situation.

In April-June, 2011-12, inbound shipments rose by 36.2 per cent to USD 110.6 billion, led by the import of USD 30.5 billion worth of petroleum products. The trade gap during the period stood at USD 31.6 billion.

Oil and non-oil imports increased by 30 per cent and 47.8 per cent, respectively, during the month under review to USD 10.18 billion and 26.6 billion.

During the first quarter, oil imports grew by 18.1 per cent to USD 30.52 billion from USD 25.84 billion. Non-oil imports, too, increased by 44.68 per cent to USD 80 billion from USD 55.35 billion in April-June, 2010-11. PTI