India's exports up 17.57 pct at $27.7 bn in June; trade deficit widens to 43-month high

India's exports soared by 17.57 per cent to USD 27.7 billion in June but the trade deficit widened to a more than three-and a-half-year high of USD 16.6 billion due to costlier crude oil imports. Imports too rose by 21.31 per cent to USD 44.3 billion during the month, according to the data released by the commerce ministry.

The trade deficit in June 2018 is the highest since November 2014 when the gap was USD 16.86 billion. The deficit in June 2017 stood at USD 12.96 billion. During April-June this fiscal, exports rose by 14.21 per cent to USD 82.47 billion.

Imports during the first quarter of the fiscal increased by 13.49 per cent to USD 127.41 billion, leaving a trade deficit of USD 44.94 billion.

Exporting sectors, which helped to push the shipments in June include petroleum products, chemicals, pharmaceuticals, gems and jewellery, and engineering goods.

Oil imports during the month were up by 56.61 per cent to USD 12.73 billion.

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Gold imports in June dipped by about 3 per cent to USD 2.38 billion.