The country’s merchandise exports rose for the seventh straight month in June 2021 to $32.5 billion, up 48.34 per cent year-on-year, revised trade deficit data released by the government showed on Thursday, July 15. Imports in June also increased by 98.3 per cent to $41.87 billion, driven by oil and gold, resulting in a trade deficit of $ 9.37 billion, showed foreign trade data released by the Ministry of Commerce. (Also Read: At $95 Billion, India Reports Highest Ever Exports In A Quarter )
The growth in exports was driven by shipments of petroleum products, gems and jewellery, and chemicals, leather, and marine goods. Oil imports in June 2021 stood at $10.68 billion, which were 116.51 per cent higher compared to $ 4.93 billion in the year-ago period. During the April-June quarter of the current fiscal, exports increased by 85.88 per cent to $ 95.39 billion, while imports rose to $126.15 billion, compared to $60.44 billion in the corresponding period last year.