Exports jump around 32% on year in June, imports spike nearly 74%

India’s overall exports (merchandise and services combined) in June 2021 are estimated to be $49.85 billion, exhibiting a positive growth of 31.87% over the same period last year and a positive growth of 17.17% over June 2019. Overall imports in June 2021 are estimated to be $52.18 billion, exhibiting a positive growth of 73.65% over the same period last year and a positive growth of 1.08% over June 2019.

India’s overall exports in April-June 2021 are estimated to be $147.64 billion, exhibiting a positive growth of 50.24% over the same period last year and a positive growth of 10.92% over April-June 2019. Overall imports in April-June 2021 are estimated to be $156.58 billion, exhibiting a positive growth of 80.75% over the same period last year and a negative growth of (-) 3.48% over April-June 2019.

The trade balance for June 2021 was estimated at $(-) 9.37 billion as against $0.79 billion in June 2020, which is a decline of (-) 1,281.86% due to the effect of last year’s lockdown. As compared to June 2019 ($(-) 16.00 billion), the trade balance in June 2021 exhibited a positive growth of 41.43%.

As per RBI’s press release dated 1st July 2021, the trade balance in services (i.e. net services export) for May 2021 is $7.12 billion. The estimated trade balance in June 2021 is $7.04 billion, which is an increase of 1.18% over June 2020 ($6.96 billion) and an increase of 1.73% over June 2019 ($6.92 billion).

Taking merchandise and services together, the overall trade balance for June 2021 is estimated at $(-) 2.34 billion as compared to $7.75 Billion in June 2020, a decline of (-) 130.13%. In comparison to June 2019 ($(-) 9.09 billion), trade balance in June 2021 exhibited a positive growth of 74.30%. – Powered by Capital Line News