New Delhi: India’s exports rose by 47.34 per cent to USD 32.46 billion in June on account of healthy growth in sectors such as engineering, gems and jewellery and petroleum products. However, trade deficit aggregated at USD 9.4 billion during the month, according to the data released Friday by the Commerce Ministry.
Exports in June last year stood at US 22 billion and USD 25 billion in June 2019. In May 2021, the outward shipment was worth USD 32.27 billion, while in April this year, it was USD 31 billion.
Imports in June 2021 grew by 96.33 per cent to USD 41.86 billion, from USD 21.32 billion in June last year. In June 2019, imports stood at USD 41 billion.
“India is thus a net importer in June 2021 with a trade deficit of USD 9.4 billion, widened by 1,426.6 per cent over trade surplus of USD 0.71 billion in June 2020 (India was net exporter in June 2020) and narrowed down by 41.26 per cent over trade deficit of USD 16 billion in June 2019,” the Commerce Ministry said in a statement.
Exports during the April-June quarter this year jumped to USD 95.36 billion as against USD 51.44 billion in the same period last year.
“Exports during the April-June period are the highest ever merchandise exports in a quarter in history of India,” Commerce and Industry Minister Piysuh Goyal said briefing the media here.
The merchandise exports were recorded at USD 82 billion during April-June 2018-19 and USD 90 billion during the last quarter of 2020-21, he said. Goyal also said the ministry will work with all the stakeholders concerned to achieve the target of USD 400 billion exports in this fiscal year.
Imports during April-June 2021 were at USD 126.14 billion, an increase from USD 60.65 billion in the corresponding three months last year.
Oil imports in June this year rose to USD 10.68 billion, as compared to USD 4.97 billion in June 2020.