Trade Deficit in June 2021: Trade deficit stood at $9.37 billion last monthThe country's merchandise exports rose for the seventh straight month in June 2021 to $32.5 billion, up 48.34 per cent year-on-year, revised trade deficit data released by the government revealed on Thursday, July 15.
Imports in June likewise increased by 98.3 percent to $41.87 billion, driven by oil and gold, leading to a trade deficit of $ 9.37 billion, revealed foreign trade information launched by the Ministry of Commerce.
(Also Check out: At $95 Billion, India Reports Highest Ever Exports In A Quarter )The development in exports was driven by deliveries of petroleum products, gems and jewellery, and chemicals, leather, and marine items.
The product groups of exports which tape-recorded de-growth in June 2021, compared to the same month last year are oil seeds (32.75 percent), tea (18.54 per cent), cashew (24.45 percent), and spices (11.31 percent).
Oil imports in June 2021 stood at $10.68 billion, which were 116.51 percent higher compared to $ 4.93 billion in the year-ago duration.
The significant product group of imports which registered de-growth last month include silver at 91.39 per cent and task goods at 12.49 per cent.During the April-June quarter of the current financial, exports increased by 85.88 per cent to $ 95.39 billion, while imports rose to $126.15 billion, compared to $60.44 billion in the matching duration last year.The federal government information likewise showed that the country's total exports, including product and services integrated, in June 2021 are approximated to be $ 49.85 billion, taping a development of 31.87 percent, compared to the matching period in 2015, and a growth of 17.17 percent over June 2019 (pre-pandemic).