The low-base effect has helped this June as exports in June 2015 had shrunk 16 per cent over June 2014. He said positive exports in segments including engineering, marine products, drugs and pharma, plantation commodities, electronic goods, carpets and handicrafts were encouraging as these were high employment generating sectors. Gold imports fell 38.5 per cent to $1.2 billion, while oil imports contracted 16.4 per cent to $7.2 billion. Rising exports and decline in imports also brought down the trade deficit in June to $8.11 billion. A growth in exports combined with a contraction in imports helped narrow the trade deficit in June to $8.1 billion from $10.8 billion in June 2015.

Source: The Hindu July 15, 2016 14:08 UTC