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Down for 6th month in a row, Exports fall 20% on falling crude, commodity prices

 Down for 6th month in a row, Exports fall 20% on falling crude, commodity prices

India’s outbound shipment contracted for the sixth month in a row, sharply declining by 20.19 per cent in May, pulled down by a fall in global demand and low commodity and oil prices. Imports too declined by over 16 per cent during the month, narrowing down the trade deficit to $10.40 billion compared to $10.99 billion in April. Concerned over the development, economists and trade experts said that the soft domestic demand and no visible pick-up in global demand indicates that a turnaround is not likely to happen anytime soon.

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