Merchandise exports rise by 16.8%, imports by 51% in June

Merchandise exports were US$ 37.94 billion and imports stood at USD$ 63.6 billion

July 5, 2022

The growth in exports during June was led by petroleum products, electronics, and garments

Exports stood at $38.9 billion last month

Imports were led by coal, crude oil & petroleum products, gold, non-oil products, non-gems, and jewellery

Current Account Deficit stood at US$ 25.6 billion for the month

Merchandise exports rose by 16.8% to US$ 37.94 billion in June this year, according to preliminary data released by the Ministry of Commerce.

The growth in exports during June was led by petroleum products (98%), followed by electronics (51%), and garments (45%). Core exports (excluding petroleum, and gems & jewellery) saw a growth of 4%, at US$ 26.8 billion.

In May 2022, the country’s exports stood at $38.9 billion.

Imports, on the other hand, increased by 51% to USD$ 63.6 billion in June, compared to US$ 42.1 billion during the same month last year. 

Coal imports increased by 242% year-over-year (YoY) to US$ 6.4 billion, along with crude oil & petroleum products by 94%, and gold by 169%. Non-oil products, non-gems, and jewellery imports increased by 31.7%  in June.

The Current Account Deficit stood at US$ 25.6 billion in June 2022.