Indians export of goods jumped 16.78 percent year-on-year in June to $37.94 billion, while Import Preliminary figures from the government released on Monday showed that it rose 51 per cent year-on-year to $63.58 billion. of the country trade deficit According to the data, it rose to a record $25.63 billion during the month, compared to $9.61 billion in June 2021.
Cumulative exports grew by about 22.22 per cent to $116.77 billion in April-June 2022-23, while imports during the period grew by 47.31 per cent to $187.02 billion. The trade deficit widened to $70.25 billion during the first three months of the current fiscal, from $31.42 billion in the year-ago period.
“India has achieved a monthly value of goods exports of $37.94 billion in June 2022, an increase of 16.78 percent from $32.49 billion in June 2021. India’s goods exports stood at $116.77 billion in April-June 2022-23, a growth of 22.22 percent. over $95.54 billion in April-June 2021-22,” the Ministry of Commerce and Industry said in a statement on Monday.
It said petroleum products with a jump of 98.01 per cent, followed by electronic goods (50.66 per cent) and RMG of all textiles (44.67 per cent) led the way for higher growth in exports during June 2022.
It said that non-petroleum exports were valued at $30.12 billion in June 2022, registering a positive growth of 5.53 percent over non-petroleum exports of $28.54 billion in June 2021. The cumulative value of non-petroleum exports in April-June 2022-23 April-June 2021-22 stood at $92.49 billion, an increase of 11.92 percent from $82.65 billion.
“Non-petroleum and non-gems and jewelery exports were valued at $26.75 billion in June 2022, registering a positive growth of 4.0 per cent over non-petroleum and non-gems and jewelery exports of $25.72 billion in June 2021. The cumulative value of non-petroleum and non-gems and jewelery exports in April-June 2022-23 was $82.43 billion, up from the cumulative value of $73.47 billion of non-petroleum and non-gems and jewelery exports in April-June 2021 12.19 percentage increase. 22,” the ministry said.
During April-June 2022, the value of non-petroleum imports was $42.84 billion in June 2022 with a positive growth of 36.36 per cent as compared to non-petroleum imports of $31.42 billion in June 2021. The cumulative value of non-petroleum imports in April- June 2022-23 stood at $126.95 billion as compared to $96.04 billion in April-June 2021-22 showing a growth of 32.18 percent.
“Non-oil, non-GJ (gold, silver and precious metals) imports stood at $36.7 billion in June 2022 as compared to non-oil and non-GJ imports of $27.87 billion in June 2021, registering a positive growth of 31.71 per cent. was with. Non-oil, non-GJ (gold, silver and precious metals) imports stood at $107.14 billion in April-June 2022-23, registering a positive growth of 32.55 per cent, while non-oil and non-GJ imports stood at 80.83 per cent. was billion dollars. April-June 2021-22,” the ministry said.
In May, India’s merchandise exports grew 20.55 per cent year-on-year to $38.94 billion, while imports during the month grew 62.83 per cent year-on-year to $63.22 billion. Thus, the trade deficit during the month stood at $24.29 billion, as against $6.53 billion in May 2021.
During the last financial year 2021-22, India Achieved the highest ever merchandise exports of $400 billion, an increase of 37 percent over the previous fiscal. Exports stood at $292 billion in FY2020-21.
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