India's exports declined by 27.7 per cent in June over the same month last year, contracting for the ninth month in a row, as overseas shipments were hit by a slowdown in major global markets like the US and Europe.
Exports dropped to USD 12.81 billion in June from USD 17.73 billion in the same month last year, according to the
government data released on Monday.
Imports too dipped for the sixth straight month by 29.3 per cent to USD 18.97 billion in June over the year-ago month.
Trade deficit was USD 6.16 billion in the third month of the financial year 2009-10 against USD 9.12 billion in June 2008.
Exports plunged by 29.2 per cent to USD 11.01 billion in May from USD 15.55 billion in the year-ago period.
The exports during April-June period dipped by 31.3 per cent to USD 35.43 billion from USD 51.54 billion in the same period last year.
Overseas shipments grew by a meagre 3.4 per cent to USD 168.7 billion in 2008-09 after being hit by the global slowdown in the second half of the previous fiscal.