The Union Commerce Ministry released data on Friday that showed goods exports from India posted a growth of 1.27% to $22.57 billion (Rs 1.5 lakh crore) in June 2016 compared to last year. This is the first positive exports trend after 18 months. Imports continued to contract, dropping by 7.3% to $30.7 billion (Rs 2,02,000 crore). The trade deficit also narrowed to $8.11 billion (Rs 53,526 crore) compared to $10.82 billion (Rs 71,412 crore) in the same month last year.

Apart from a global slowdown, factors like a decline in commodity prices and sluggishness in the Chinese economy had also contributed to a decline in export figures, reported Business Standard. Total exports in April-June stood at $65.31 billion (Rs 4,31,046 crore), around 2.07% lower than exports in the same period last year. Exports had last recorded growth in November 2014, rising by 7.27% year-on-year.

Total imports between April and June were valued at $84.54 billion (Rs 5,57,964 crore), almost 14% lower than the same period in 2015-'16. Compared to last year, oil imports fell by 16.4% while non-oil imports reduced by 4.1%.

In June, China’s exports fell by 4.8% while its imports dropped by 8.4%.