Exports up 52.39% to $7.71 billion during June 1-7

India’s exports grew by 52.39% to $7.71 billion during the first week of this month on account of healthy growth in shipments in sectors including engineering, gems and jewellery, and petroleum products, according to preliminary data of the commerce ministry.

Imports too rose by about 83% to $9.1 billion during June 1-7.

Exports of engineering, gems, and jewellery, and petroleum products increased by 59.7% to $741.18 million, 96.38% to $297.82 million, and 69.53% to $530.62 million respectively, the data showed.

However, exports of iron ore, oilseeds, and spices recorded negative growth during June 1-7.

Imports of petroleum and crude oil jumped by 135% to $1.09 billion. Imports of electronic goods and pearls, precious and semi-precious stones increased by 45.85% to $324.77 million and 111% to $294 million respectively.

Exports to the US, UAE, and Bangladesh rose by about 60% to $500 million, 57.86% to $173 million, and 212% to $166.3 million respectively.

Similarly, imports from China, the US, and UAE grew by 90.94% to $809.53 million, 89.45% to $410.65 million, and 164.55% to about $400 million respectively.

India’s exports grew by 67.39% to $32.21 billion in May, driven by healthy growth in sectors such as engineering, and petroleum products.