India’s exports grow by 47% to $32.46 billion in June

Union minister Piyush Goyal said it is the highest ever merchandise exports in a quarter in the history of the nation.

India’s exports during the April to June quarter in 2021 jumped to $95 billion on account of healthy growth in engineering, rice, oil meals and marine products as well as other sectors, the Union ministry for commerce and industry said on Friday.

The ministry said that merchandise exports were worth $82 billion during April-June 2018-19 and $90 billion during the last quarter of 2020-21. (Ashesh Shah/Mint)

The ministry said that merchandise exports were worth $82 billion during April-June 2018-19 and $90 billion during the last quarter of 2020-21. India’s exports in June quarter 2020-21 were $51 billion. India’s exports in June 2021 was $32.46 billion. The ministry said that there was an increase of 47.34% from June 2020.

Union minister Piyush Goyal said it is the highest ever merchandise exports in a quarter in the history of the nation. “Exports during April-June period are the highest ever merchandise exports in a quarter in the history of India,” the minister was quoted as saying by news agency PTI.

The statement also showed that India’s imports last month reached $41.86 billion registering an increase of 96.33% compared to the same period last year when imports were $21.32 billion. India’s trade deficit stood at $9.4 billion last month.

“India is thus a net importer in June 2021 with a trade deficit of USD 9.4 billion, widened by 1426.6% over trade surplus of USD 0.71 billion in June 2020 (India was net exporter in June 2020) and narrowed down by 41.26% over trade deficit of USD 16.0 billion in June 2019,” the statement said.

Cashew (-44.86%), tea (-25.08%), leather and leather manufactures (-21.0%), RMG of all textiles (-18.76%), and gems and jewellery (-10.76%) were the major commodity groups of export showing negative growth in June 2021.