India’s merchandise exports grew 23.52 per cent to $40.13 billion in June, while imports grew 57.55 per cent to $66.31 billion. According to the latest official data released on Thursday, the country’s trade deficit reached a record high of $ 26.18 billion.
The trade deficit stood at $9.60 billion in June 2021. Cumulative exports grew by about 24.51 per cent to $118.96 billion in April-June 2022-23, while imports grew by 49.47 per cent to $189.76 billion during the period.
The trade deficit widened to $70.80 billion during the first three months of the current fiscal, from $31.42 billion in the year-ago period.
“Merchant exports stood at $40.13 billion in June 2022 as compared to $32.49 billion in June 2021, exhibiting a positive growth of 23.52 per cent. Merchandise imports stood at $66.31 billion in June 2022, an increase of 57.55 percent over imports of $42.09 billion in June 2021. The trade trade deficit was estimated at $26.18 billion in June 2022, while it stood at $9.60 billion in June 2021, which is an increase. 172.72 per cent,” the Ministry of Commerce and Industry said in a statement.
Non-petroleum and non-gems and jewelery exports stood at $27.94 billion in June 2022, registering a positive growth of 8.65 per cent over non-petroleum and non-gems and jewelery exports of $25.71 billion in June 2021. Non-petroleum, non-gems and jewelery (gold, silver and precious metals) imports stood at $38.53 billion in June 2022, up 38.30 percent as compared to non-petroleum, non-gems and jewelery imports of $27.86 billion in June 2021 with positive growth.
For April-June 2022, the country’s merchandise exports stood at $118.96 billion as against $95.54 billion during the period April-June 2021, registering a positive growth of 24.51 per cent.
“Trade imports for the period April-June 2022 stood at $189.76 billion, registering a positive growth of 49.47 per cent as against $126.96 billion during the period April-June 2021. The trade trade deficit for April-June 2022 stood at $70.80 billion as against $31.42 billion in April-June 2021, which is an increase of 125.34 per cent,” the ministry said.
Non-petroleum and non-gems and jewelery exports stood at $83.62 billion during April-June 2022, a growth of 13.81 per cent over non-petroleum and non-gems and jewelery exports of $73.47 billion in April-June 2021. -Gems and jewelery (gold, silver and precious metals) imports stood at $108.97 billion in April-June 2022, registering a positive growth of 34.80 per cent as compared to non-petroleum, non-gems and jewelery imports of $80.83 billion in April does. June 2021.
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