Exports dip 4.6 pc in June; trade deficit declines

India's exports contracted by 4.6 per cent, for the second consecutive month, to USD 23.79 billion in June 2013 compared to that in the year-ago period.
Imports too declined marginally by 0.37 per cent to USD 36 billion in the month, leading to a trade deficit of USD 12.2 billion. In May, the trade gap stood at USD 20.1 billion.
The main reason for decline in imports and trade deficit was dip in gold and silver imports, Director General of Foreign Trade (DGFT) Anup Pujari told reporters here.
Gold and silver imports in June decreased to USD 2.45 billion from USD 8.4 billion in May.

Cumulatively, exports during April-May too dipped by 1.41 per cent to USD 72.45 billion. However, imports during the period were up by 5.99 per cent to USD 122.6 billion.
"Decline in gold and silver imports could be attributed to the steps taken by the government and the RBI," Pujari said.
Oil imports in June grew by 13.74 per cent to USD 12.76 billion from USD 11.22 billion in the same period last year. On the other hand non-oil imports declined by 6.7 per cent to USD 23.2 billion.