June exports shoot up 30% to $17.8 billion

The country's exports remained robust with a 30.4 per cent annual growth in June at $17.8 billion, but were short of the impressive May performance, amidst apprehensions of the European debt trouble casting a shadow on global trade.

The country's exports remained robust with a 30.4 per cent annual growth in June at $17.8 billion, but were short of the impressive May performance, amidst apprehensions of the European debt trouble casting a shadow on global trade.

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In June 2009, exports had shrunk by about 28 per cent under the impact of the global financial meltdown.

"There is a problem in Europe...mood is not good out there in Europe," said Commerce Secretary Rahul Khullar. Though on a low base for comparison, in May exports had posted an impressive 35.1 per cent growth at $16.1 billion.

Imports increased 23 per cent to $28.3 billion, Khullar said, widening the country's trade deficit to $10.55 billion.