India’s Overall Exports Grow By 23%, Imports Up By 53% In June

Chaitanya Arora
By: Chaitanya Arora
Updated: 16 July, 2022 4:19 pm IST
Representative image

NEW DELHI: India’s overall exports in June grew by 23 per cent to USD 64.91 billion while imports increased by 53 per cent to USD 82.42 billion on a year-on-year basis, as per the commerce ministry.

The merchandise and service exports in the first quarter of 2022 rose by 25.16 per cent to USD 189.93 billion while imports jumped by 49.4 per cent to USD 235.11 billion over the same period last year.

Electronic goods, petroleum, textile and leather products, rice, minerals, oil seeds, gems, and jewellery saw record high exports in June.

The merchandise exports in June 2022 were at an estimated USD 40.13 billion, up from USD 32.49 billion in the same month last year. On the other hand, the merchandise imports stood at a staggering USD 66.31 billion as compared to USD 42.09 billion in June 2021.

The non-petroleum and non-gems jewellery exports reached USD 27.94 billion, witnessing a positive growth of 8.65 per cent. The import of these products reached USD 38.53 billion in June this year, with a positive growth rate of 38.30 per cent.

The estimated value of services export for June 2022 stood at USD 24.77 billion. The value of services imported for the same period has been USD 16.11 billion from June 2021’s USD 10.84 billion.

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