India's merchandise exports rise by 16.78 per cent to USD 37.9 billion in last month

Country's merchandise exports registered a growth of 16.78 per cent in June 2022 over the corresponding period of previous year. India's merchandise exports reached to USD 37.94 billion in June 2022, which was USD 32.49 billion in June 2021.

Merchandise export was led by robust growth in petroleum products, electronic goods and readymade textiles. Petroleum products (98.01 per cent), Electronic goods (50.66 per cent) and RMG of all Textiles (44.67 per cent) led the way in a high increase in exports during June 2022.

Value of non-petroleum imports was USD 42.84 billion in June 2022 with a positive growth of 36.36 per cent over non-petroleum imports of USD 31.42 billion in June 2021. The cumulative value of non-petroleum imports in April-June 2022-23 was USD 126.95 billion, showing an increase of 32.18 per cent compared to non-oil imports of USD 96.04 billion in April-June 2021-22.

Data released by the Commerce and Industry Ministry showed that the country's merchandise export in the April-June quarter of this year registered a growth of 22.22 per cent over the corresponding period of previous year. India's merchandise export in the last quarter (April-June 2022-23) was USD 116.77 billion which was USD 95.54 billion in April-June 2021-22.

Country's merchandise imports in June this year was USD 63.58 billion, an increase of 51 per cent over the corresponding period of previous year. The trade deficit in last month was USD 25.63 billion while it was USD 70.25 billion during April-June Quarter of this year.