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India’s Foreign Trade Shows Declining Trends in June

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India’s overall exports, including merchandise and services, were estimated to be 60.09 billion U.S. dollars in June, a decrease of 13.16 percent year-on-year, showed data released by the Ministry of Commerce and Industry on Friday.

Overall imports were estimated to be 68.98 billion dollars last month, a decrease of 13.91 percent year-on-year, according to the data.

In April-June, overall exports of merchandise and services combined showed a growth of 7.29 percent compared to the same quarter last year. However, overall imports during the quarter exhibited a negative growth of 10.18 percent over April-June 2022.

The trade deficit reduced by 28.26 percent during April-June, amounting to 22.59 billion dollars, compared to 31.49 billion dollars in the same period last year.