Exports rise by 48% to $32.5 bn in June; trade deficit at $9.37 bn

The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods

The country's exports rose by 48.34 per cent to USD 32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday.

Imports in June too rose by 98.31 per cent to USD 41.87 billion, leaving a trade deficit of USD 9.37 billion as against a trade surplus of USD 0.79 billion in the same month last year.

During April-June 2021, the exports increased by 85.88 per cent to USD 95.39 billion. Imports expanded to USD 126.15 billion during the first three months of the fiscal as against USD 60.44 billion in the same period last year, the data showed.

Trade deficit during the quarter was aggregated at USD 30.75 billion as against USD 9.12 billion during April-June 2020.

Oil imports in June were USD 10.68 billion, which were 116.51 per cent higher compared to USD 4.93 billion in June 2020.

During April-June 2021, the imports stood at USD 31 billion as against USD 13.08 billion during the same quarter previous fiscal.