NEW DELHI: India’s merchandise exports in June grew by 48.34% to $32.5 billion, for seventh month in a row, but increase in imports pushed trade deficit at $9.37 billion. According to the data released by the commerce ministry, exports were driven by shipments across sectors including petroleum products, gems and jewellery, chemicals, leather and marine goods.
Imports in June too rose by 98.31% to $41.87 billion, driven by a rise in oil and gold imports, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. Oil imports in June were $10.68 billion, which were 116.51% higher compared to $4.93 billion in June last year.
For the period between April-June 2021, the exports increased by 85.88% to $95.39 billion. The top sectors, which performed impressively during the first quarter starting with 3-digit growth were iron-ore, rice, cotton, handloom products, engineering goods among others.