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India's trade deficit at record high of $25.63 billion in June

economy | Jul 4, 2022 8:34 PM IST

India's trade deficit at record high of $25.63 billion in June

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The merchandise exports during the first quarter of this fiscal year jumped 22 percent to USD 116.7 billion, the highest ever exports recorded during the first quarter. 

India's merchandise trade deficit grew to a record $25.63 billion in June from $9.61 billion during the same period last year, stated the data released by the Commerce Ministry.

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The trade deficit in the April to June period this year was $70.25 billion.
The country's merchandise exports increased by 16.8 percent year-on-year to $37.9 billion in June 2022, the highest-ever recorded in the month, the data stated.
On the other hand, imports expanded to 51.03 percent year-on-year to $63.58 billion. The monthly imports and trade decifit were among the highest-ever, in June 2022.
The merchandise exports during the first quarter of this fiscal year jumped 22 percent to $116.7 billion, the highest-ever exports recorded during the first quarter.
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Non-petroleum exports increased by 11.9 percent to $92.5 billion in the first quarter, which also recorded a major rise in the exports of petroleum products, electronic goods and readymade garments.
The country saw a positive growth in imports of top 10 major commodity groups from June 2021 to June 2022. There was a 94.17 percent rise in petroleum and crude import, 241 percent rise in coal and coke import, 169 percent increase in gold import and 51 percent rise in total imports.
Cotton yarn exports fell by 22.54 percent, plastic exports reduced by 22.23 percent, engineering goods by 1.57 percent and drug and pharma exports by 1.27 percent.
There was a positive growth in all other major export categories from June 2021 to June 2022.
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