India's Trade Deficit Narrows To $20.1 Billion In June As Exports, Imports Decline

India's trade deficit narrowed in June, as both exports and imports declined amid a slowdown in major world economies.

• Exports of engineering goods stood at $8.5 billion, down 11% year-on-year.

• Petroleum product exports were at $5.6 billion, 47.5% lower than a year earlier.

• Gems and jewellery exports were at $2.3 billion, 35.6% lower on an annual basis.

• Organic and inorganic chemical exports were at $2.2 billion, 26.7% lower on an annual basis.

• Drugs and pharmaceutical exports were at $2.2 billion, 5.1% higher from over a year earlier..

• Petroleum, crude, and product imports were down 33.8% over a year earlier at $12.5 billion.

• Organic and inorganic chemical imports were at $2.5 billion, 30.5% lower on an annual basis.

• Imports of coal, coke, and briquettes were 47.6% lower than a year ago at $3.5 billion.

• Imports of electronic goods were at $6.6 billion, 8.5% higher over a year earlier. 

• Machinery, electrical and non-electrical goods were at $3.7 billion, up 2.2% over a year ago.  

• Gold imports stood at $5 billion, 82.4% lower than a year ago.

Services trade was largely flat on an annual basis, with exports at $27.1 billion and imports at $15.9 billion. As such, the overall trade deficit in June came in at $8.9 billion, down from $10.4 billion last month and $10.9 billion a year ago.