India’s merchandise exports in June jumped 23.52 per cent year-on-year to $40.13 billion, while imports increased 57.55 per cent to $66.31 billion. The country’s trade deficit ballooned to a record of $26.18 billion, according to the latest official data released on Thursday.
The trade deficit had stood at $9.60 billion in June 2021. Cumulative exports in April-June 2022-23 rose about 24.51 per cent to $118.96 billion, while imports increased 49.47 per cent to $189.76 billion during the period.
The trade deficit during the first three months of this fiscal widened to $70.80 billion from $31.42 billion in the year-ago period.
“Merchandise exports in June 2022 were $40.13 billion, as compared to $32.49 billion in June 2021, exhibiting a positive growth of 23.52 per cent. Merchandise imports in June 2022 were $66.31 billion, which is an increase of 57.55 per cent over imports of $42.09 billion in June 2021. The merchandise trade deficit in June 2022 was estimated at $26.18 billion as against $9.60 Billion in June 2021, which is an increase of 172.72 per cent,” the commerce and industry ministry said in a statement.
Non-petroleum and non-gems & jewellery exports in June 2022 were $27.94 billion, registering a positive growth of 8.65 per cent over non-petroleum and non-gems & jewellery exports of $25.71 billion in June 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $38.53 Billion in June 2022 with a positive growth of 38.30 per cent over non-petroleum, non-gems & jewellery imports of $27.86 Billion in June 2021.
For April-June 2022, the country’s merchandise exports stood at $118.96 billion as against $95.54 billion during the April-June 2021 period, registering a positive growth of 24.51 per cent.
“Merchandise imports for the period April-June 2022 were $189.76 billion as against $126.96 billion during the period April-June 2021, registering a positive growth of 49.47 per cent. The merchandise trade deficit for April-June 2022 was estimated 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 & jewellery exports during April-June 2022 was $83.62 billion, an increase of 13.81 per cent over non-petroleum and non-gems & jewellery exports of $73.47 billion in April-June 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $108.97 billion in April-June 2022, recording a positive growth of 34.80 per cent, as compared to Non-petroleum, non-gems & jewellery imports of $80.83 billion in April-June 2021.
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