June 9, 2022
Exports rose to US$ 9.4 billion
Outbound exports were US$ 7.56 billion in the first week of June 2021
Gold imports rose by 391.9% in the first week of June, petroleum was up 207%, and coal increased by 253.8%
The current trade deficit is US$ 6.6 billion
India’s exports rose 24.18% year-on-year (yoy) to US$ 9.4 billion in the first week of June, according to government officials. Around 80% of export growth came from non-petroleum products while 80% of import growth came from natural resources such as petroleum, coal and gold.
In the first week of June 2021, outbound exports were US$ 7.56 billion. India’s goods exports had grown 15.46% on year to US$ 37.29 billion in May ‘22.
During the first week of June ‘22, outbound shipments of gems and jewellery grew by 84.3%, engineering goods by 25.7%, petroleum products by 20.4%, and electronic goods by 73.5%, the officials said.
Imports, on the other hand, were 76.9% higher in June than in the same period a year ago.,. Petroleum, oil, coal, coke and briquettes, gold, and chemicals are among the major import items that have seen increased growth.
Gold imports rose by 391.9% in the first week of June, petroleum was up 207%, and coal increased by 253.8%, according to the officials.
The current trade deficit is US$ 6.6 billion.