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Aug 01, 2012, 12.28 PM IST
India's exports fell 5.45% to USD 25.1 billion in June, while imports fell 13.46% to USD 35.4 billion, leaving a trade deficit of USD 10.3 billion, government data showed on Wednesday.
After recording strong growth for much of last year, India's overseas sales have tanked, with officials blaming weak demand in the United States and Europe for the fall. Exports between April and June fell 1.7%, totaling USD 75.2 billion. Oil imports for June fell 4.4% to USD 12.7 billion. Weak exports and widening trade and current account deficits have added to India's economic gloom, as growth has slowed to its worst pace in nine years.
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