Exports down 26% in Jul, imports fall 35-36%

Exports down 26% in Jul, imports fall 35-36%
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First Published: Wed, Aug 19 2009. 12 17 AM IST
Updated: Wed, Aug 19 2009. 12 17 AM IST
New Delhi: India’s exports declined for the tenth consecutive month in July, down 26% on year, trade secretary Rahul Khullar said on Tuesday.
“Cumulative exports during April-July are down 32%, so the bad run continues. The basic issue is this that you are getting a large contraction in the neighbourhood... It is too early to say (exports outlook). I will wait for September data and till then I will reserve my judgement,” Khullar said.
According to data released earlier this month, merchandise exports in June fell to $12.81 billion. Exports have been declining since the global financial crisis deepened in mid-September.
India’s imports also fell 35-36% on year in July.
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First Published: Wed, Aug 19 2009. 12 17 AM IST