Wednesday, July 1, 2009

[Investors Please Listen] Trade deficit may rise to USD7.1-7.4bn in June 2009

 

India's trade deficit continued to remain stable at USD5.2bn for May 2009 as both imports and exports declined by 30% and 40% respectively.

Although the imports for the month were lower by 40% over last year, the fall was driven by a sharp drop of 60% in the oil imports. The non-oil imports failed to pick up as they remained flat sequentially reflecting that there has not been meaningful pick up in the economic activities.

With oil prices averaging to USD68/barrel for June 2009, we believe that the trade deficit may rise to USD7.1-7.4bn for June 2009.


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Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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