INSUBCONTINENT EXCLUSIVE:
Trade Deficit in June 2021: Trade deficit expanded to $9.4 billion last monthThe country reported its highest-ever product exports at $95
billion in the very first quarter of the current fiscal year, government data revealed on Friday, July 2
The exports tape-recorded in the April-June quarter is 85 percent greater than the exports signed up in the matching period in 2015
In June, the country's trade deficit broadened to $ 9.4 billion as exports increased by 47.34 per cent to $ 32.46 billion, driven by
growth in sectors such as petroleum items, gems and jewellery, and engineering, according to information launched by the commerce ministry
During the April-June quarter this year, exports jumped to $ 95.36 billion, compared to $ 51.44 billion in the matching period last year
While imports throughout the very first quarter stood at $ 126.14 billion, registering an increase from $60.65 billion in the year-ago
period.The oil imports throughout the quarter stood at $ 31 billion, recording a favorable growth of 136.36 per cent compared to $ 13.12
billion in the year-ago duration
(Likewise Check Out: Exports Jump 69% To $32.27 Billion In May, Trade Deficit Broadens To $6.28 Billion )Commerce Minister Piyush Goyal
shared on Twitter that spices and oil meals registered double-digit exports growth in the first quarter of fiscal 2021, compared to previous
financial years 2020-21, and 2019-20
India was a net importer in June as the trade deficit widened by 1,426.6 percent over the trade surplus of $0.71 billion in the same month
in 2015 when the nation was a net exporter
Imports in June also increased by 96.33 percent to $ 41.86 billion, compared to $ 21.32 billion in the very same month last year.Last month,
the leading 5 product groups of export which have actually signed up growth, compared to June 2020, were iron ore (134.46 percent), other
cereals (299.29 per cent), cereal preparations and various processed product (56.63 percent), organic and inorganic chemicals (62.41
percent), and oil meals (53.99 per cent)
Whereas, the top five product groups of import which signed up a de-growth in June, compared to the corresponding month last year are silver
at 91.38 percent and task items at 12.49 percent.
