India’s exports drop by 5.45%

India’s exports declined by 5.45 per cent to $25.07 billion in June, registering a sharp drop for the second month in row due to weak demands in North America and European countries, government data showed. Imports slumped by 13.46 per cent to $35.37 billion, leaving a trade deficit of $10.3 billion. Cumulative value of exports for the period April-June 2012 was $75.20 billion as compared to $76.50 billion during the corresponding period of last year, registering a decline of 1.70 per cent, according to data released by the ministry of commerce and industry.  The first three months’ data indicate exports are likely to remain sluggish. From gulftoday