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13 July 2018
 |
| Trade
(The Total Investment & Insurance Solutions) |
India's exports soared by 17.57 percent to $27.7 billion in June but the trade deficit widened to a more than five-year high of $16.6 billion due to costlier crude oil imports. The Total Investment & Insurance Solutions
Imports too rose by 21.31 percent to $44.3 billion during the month, according to the data released by the commerce ministry.
The trade deficit in June 2018 is the highest since May 2013 when the gap was $19.37 billion. The deficit in June 2017 stood at $12.96 billion.
During April-June this fiscal, exports rose by 14.21 percent to $82.47 billion.
Imports during the first quarter of the fiscal increased by 13.49 percent to $127.41 billion, leaving a trade deficit of $44.94 billion.
Exporting sectors, which helped to push the shipments in June include petroleum products, chemicals, pharmaceuticals, gems and jewellery, and engineering goods. The Total Investment & Insurance Solutions
Oil imports during the month were up by 56.61 percent to $12.73 billion.
Gold imports in June dipped by about 3 percent to $2.38 billion.The Total Investment & Insurance Solutions
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