The key factor behind the growth of exports is the increased exports in sectors like engineering, gems and jewellery and petroleum products.
India’s merchandise exports grew 47.34% year-on-year to USD 32.46 billion in June 2021 as compared to the same period last year at 22.03 billion. In June 2019, the numbers were recorded at USD 25.03 billion. On the other hand, India recorded the highest ever exports in the first quarter of April-June 2021, Union Commerce Minister Piyush Goyal informed on Friday.
The key factor behind the growth of exports is the increased exports in sectors like engineering, gems and jewellery and petroleum products. However, data from the Ministry of Finance 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.
"Exports during the April-June period are the highest ever merchandise exports in a quarter in history of India," Commerce and Industry Minister Piyush Goyal informed on Friday.
Addressing a press conference, the minister said, "India recorded the highest ever exports in the first quarter of April-June 2021. The highest ever merchandise export in a quarter of USD 95 billion has been achieved from April to June despite the severity of the second wave of COVID-19."
In terms of numbers, the exports are said to be measured at $95 billion which is 16 per cent more as compared to Q1 exports in FY18-19 which was $82 billion. In Q4 of FY 20, exports crossed $90 billion.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "export")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}