India’s Trade Deficit Turns Positive, Exports Fall 12.41 Percent, Imports By 47.5 Percent In June


Contracting for the fourth straight month, India’s exports declined by 12.41 per cent to $21.91 billion in June mainly due to drop in shipments of petroleum, textiles, engineering goods, gems and jewellery items. Imports too plunged 47.59 per cent to $21.11 billion in June, leaving a trade surplus of $0.79 billion, compared to a deficit of $15.28 billion in the same month of the last year, according to the data released by the Commerce and Industry Ministry on Wednesday.

During April-June 2020, exports fell by 36.71 per cent to $51.32 billion, while imports shrank by 52.43 per cent to $60.44 billion.

The trade deficit stood at $9.12 billion during the two months of the current fiscal.

Oil imports dipped 55.29 per cent to $4.93 billion in June. Gold imports in June plunged by 77.42 per cent to $608.7 million.