June exports, imports surge as world trade recovers

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SME Times News Bureau | 15 Jul, 2021
India's merchandise exports last month rose to $32.50 billion, higher by 48.34 per cent over $21.91 billion recorded in June 2020, official data showed on Thursday.

Similarly, exports last month recorded a growth of 29.85 per cent growth over the June 2019 mark of $25.03 billion.

The country's merchandise exports in May 2021 had risen to $32.27 billion.

As per the data, the value of non-petroleum and non-gems and jewellery exports in June 2021 was $25.65 billion, as compared to $18.48 billion during the corresponding month of 2020, registering a positive growth of 38.84 per cent.

"As compared to June 2019, non-petroleum and non-gems and jewellery exports in June 2021 registered a positive growth of 33.42 per cent," an official statement on foreign trade said.

Similarly, India's merchandise imports last month grew by 98.31 per cent to $41.87 billion over $21.11 billion in June 2020.

In parallel, imports rose by 2.05 per cent over June 2019 when imports stood at $41.03 billion.

In May 2021, India imported $38.55 billion worth of merchandise.

"Oil imports in June 2021 were $10.68 billion, which was 116.51 per cent higher in dollar terms in June 2020. As compared to June 2019, oil imports in June 2021 were 4.72 per cent lower in dollar terms and 0.93 per cent higher in rupee terms."

"Non-oil imports in June 2021 were estimated at $31.20 billion which was 92.77 per cent higher in dollar terms, compared to $16.18 billion in June 2020."

As compared to June 2019, the non-oil imports in June 2021, were 4.59 per cent higher in dollar terms.

Consequently, the trade deficit in June 2021 widened to $9.37 billion over the trade deficit of $0.79 billion reported during the corresponding month of 2020.

"As compared to June 2019 ((-) $16.00 billion), trade balance in June 2021 exhibited a positive growth of 41.43 per cent."

In May 2021, the country ran a trade deficit of $6.28 billion.