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

Increased exports in sectors such as engineering, gems and jewellery and petroleum products fueled the growth of exports. 

New Delhi: India’s merchandise exports grew 47.34% year-on-year to USD 32.46 billion in June 2021. In the same period last year, merchandise exports stood at USD 22.03 billion. In June 2019, the figure stood at USD 25.03 billion. India’s merchandise exports in Apr-June 2021 was USD 95.36 billion, an increase of 85.36%  over USD 51.44 billion in Apr-June 2020 and an increase of 17.85% over USD 80.91 billion in Apr-June 2019. The major reason behind the healthy growth of exports is the increased exports in sectors such as engineering, gems and jewellery and petroleum products. However, finance ministry data reveals that the trade deficit aggregated at USD 9.4 billion during the month.  "India is thus a net importer in June 2021 with a trade deficit of USD 9.4 billion, widened by 1,426.6 per cent over trade surplus of USD 0.71 billion in June 2020 (India was net exporter in June 2020) and narrowed down by 41.26 per cent over trade deficit of USD 16 billion in June 2019," the ministry said in a statement.