India's trade deficit narrows to USD 13 billion in June

reuters  | Deccan Chronicle

Business, Economy

Merchandise exports for June came in at USD 23.56 billion, up 4.39 percent from a year ago.

India's trade deficit narrowed more-than-expected to USD 12.96 billion in June. (Representational Image)

New Delhi: India's trade deficit narrowed more-than-expected to USD 12.96 billion in June as gold imports nearly halved from a month earlier, government data showed on Friday.

Economists in a Reuters poll had predicted that trade deficit would decline to USD 12.5 billion in June compared with a provisional USD 13.84 billion in the previous month.

Gold imports declined to USD 2.45 billion from almost $5 billion a month ago.

Merchandise exports for June came in at USD 23.56 billion, up 4.39 percent from a year ago. Goods imports for the month were USD 36.52 billion, up 19.01 per cent from a year ago, data from the commerce and industry ministry showed.

Read more...