Contracting for the second month in a row, India's exports dipped 0.3 % to US$ 21.51 billion owing to decline in shipments of products like petroleum and leather. The main export sectors that recorded negative growth in the month include petroleum (14 %), leather (7.82 %) and chemicals (5 %). Imports during the period too dipped by 15.89 % to US$ 143.18 billion, leaving a trade deficit of US$ 34.67 billion. Exports were in negative zone between December 2014 and May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year thereafter again entered into negative zone in July.

Source: dna September 15, 2016 14:26 UTC