India's trade deficit in June stood at $3.80 billion, lower than May's $3.84 billion, government data showed on Friday. The deficit was $3.27 billion in June 2005. Between April and June the figure stood at $12.61 billion, up from $10.54 billion during the same period a year ago.
Exports in June 2006 rose 25.1 percent to $9.97 billion compared with $7.97 billion in the same month of the previous year. In the April-June period exports valued $27.67 billion, up 16.9 percent from $23.67 billion during the same period last year.
Imports between April and June totalled $40.28 billion, up 17.7 percent from $34.21 billion in the same year-ago period. Imports in June were $13.76 billion, up 22.4 percent from $11.24 billion.
According to the government's statement, exports in June grew 40.17 percent, while between April and June they rose 32.40 percent. The higher percentages were due to the use of provisional dollar figures for 2005, which were much lower than the revised figures released on Friday.
Oil imports in June were $4.82 billion, up 55.59 percent from $3.09 billion in the same month a year ago. During April and June oil imports were $13.13 billion, up 38.99 percent from $9.45 billion.
Non-oil imports, a key indicator for industrial activity, stood at $27.15 billion between April and June, up 9.63 percent from $24.77 billion in the same year-ago period.
The government statement said there had been a substantial increase in the export of engineering and petroleum products, basic chemicals, electronic goods, cotton yarn, spices, coffee, tobacco, minerals and carpets.
Exports have logged strong growth in the past year on robust demand from traditional markets in the United States and Europe, reaching $100 billion in 2005/06 (April-March). Exports were $80 billion in 2004/05.
Stronger exports have boosted the government's confidence of doubling India's share of global trade from 1 percent by 2009. Exports account for nearly 10 percent of GDP and have bailed out the manufacturing sector during years of sluggish domestic demand.
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