India’s Exports Show Positive Growth For The First Time in 19 Months

India’s Exports Show Positive Growth For The First Time in 19 Months
Export containers stacked for shipping (Photographer: Aaron Showalter/Bloomberg) 

India's merchandise exports recorded a positive growth in June for the first time in 19 months.

Exports grew 1.27 percent in June to $22.6 billion while imports continued to contract for the 19th month in a row, down 7.3 percent to $30.7 billion, generating a six-month-high trade deficit of $8.1 billion, according to a commerce ministry release.

During the month, India's oil imports fell 16.4 percent while non-oil imports dropped 4.1 percent.

In the first quarter (April-June) of the fiscal year, India's exports contracted 2.1 percent to $65.3 billion while its imports dropped 14.5 percent to $84.5 billion, leaving a trade deficit of $19.2 billion.

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