ECONOMY

Exports in June surge by 16.8% to $37.94 billion; trade deficit in June spirals to $25.63 billion

India’s exports witnessed an increase of 16.8 per cent year-on-year (Y-o-Y) to $37.94 billion in June. Trade deficit too ballooned to a record $25.63 billion, revealed the government’s preliminary data on Monday. 

Imports surged by 51 per cent to $63.58 billion in June compared to those in the year-ago month, the data showed. 

In June 2021, the trade deficit – difference between value of imports and exports – stood at $9.61 billion.

Cumulative exports in April-June 2022-23 rose by about 22.22 per cent to $116.77 billion, while imports increased 47.31 per cent to $187.02 billion during the period. 

Trade deficit during the first three months of this financial year widened to $70.25 billion from $31.42 billion in the year-ago period. 

Report By