India's foreign trade: June 2013
The merchandise trade data for June 2013 was released today. Exports for the month decreased by around 4.6% when compared to June last year, in dollar terms. It decreased by around 1.5% for Apr-June period of this year. So the start has not been good.
The imports decreased for the month by around 0.37% when compared to June 2012. However, for the Apr-June period, the imports have increased by around 5.99% over last year, in dollar terms. So, the trade deficit has widened this year, till now. It stands at around 50 Billion USD till now, compared to around 42 Billion USD last year.
The summary table is given below, from the Press information bureau report:
So, to sum up, the year has not been very good. I will discuss about some of the reasons, and potential solutions in coming posts.