India's exports down 14.8% in July; unlikely to recover in months to come
The Statesman/Asia News Network
September 5, 2012, 11:31 am TWN
NEW DELHI -- Plagued by a continuing slack in demand from America and Europe, India's exports fell by 14.8 percent to US$22.44 billion in July as compared to US$26.34 billion recorded during the corresponding month in 2011.
The cumulative value of exports in the first four months of the current financial year stands at US$97.64 billion, 5.06 percent lower than the US$102.85 billion recorded during the corresponding period of last year.
Imports dropped 7.61 percent to US$37.93 billion in July, leaving a monthly trade deficit of US$15.49 billion, according to official data released yesterday.
The first four months' data indicate exports are likely to remain sluggish in the coming months and the whole year target might fall substantially short.