New Delhi, July 15: Snapping an 18-month downward spiral, exports in June rose 1.27 per cent to $22.57 billion. In case of services, exports (receipts) during May were valued at $13.46 billion, registering a growth of 4.28 per cent. Rising exports and decline in imports also brought down the trade deficit in June to $8.11 billion from $10.82 billion in the same period a year ago. Cumulative value of merchandise exports for April-June 2016-17 was $65.31 billion compared with $66.69 billion a year ago, a decline of 2.07 per cent. Exports have been falling since December 2014 because of a weak global demand and a slide in oil prices.

Source: The Telegraph July 15, 2016 20:15 UTC