Business EconomyPosted at: Jul 15 2024 4:56PM


India's merchandise exports grew 2.56 pc to USD 35.2 bn in June: Govt data

New Delhi, July 15 (UNI) India’s Merchandise exports grew 2.55 per cent in June at USD 35.20 Billion as compared to USD 34.32 Billion in June 2023 mainly due to increased shipment of Engineering Goods, Electronic Goods, Drugs & Pharmaceuticals, Coffee and Organic & Inorganic Chemicals, according to a data release by the Government on Monday.
The cumulative value of exports during first quarter (April-June 2024) of the current financial year stands at USD 109.96 Billion as compared to USD 103.89 Billion during April-June 2023, registering a positive growth of 5.84 per cent, Ministry of Commerce & Industry said in a statement.
India’s merchandise imports stood at USD 56.18 billion in June 2024 as against USD 53.51 billion in the same month last year. The trade deficit in the June has also gone up to USD 20.98 billion as against USD 19.19 billion in June 2023.
According to data, the non-Petroleum and Non-Gems & Jewellery exports registered an increase of 8.48 per cent from USD 25.29 Billion in June 2023 to USD 27.43 Billion in June this year.
In the services segment, the government has estimated exports of services at USD 30.27 billion in June this year up from USD 27.79 billion in the same month last year. While the imports of services also grew to USD 17.29 billion in June 2024 from USD 15.61 billion in June 2023.
In the first quarter (April-June) of FY 25, India’s exports have surpassed the USD 200 billion mark at USD 200.33 billion as against USD 184.46 billion in the corresponding quarter of previous financial year. The imports also have gone up to USD 222.89 billion USD 205.50 billion during the same period under consideration.
Among the major drivers of exports, engineering Goods exports increased by 10.27 per cent from USD 8.52 Billion in June 2023 to USD 9.39 Billion in June 2024 and the electronic goods exports increased by 16.91 per cent from USD 2.42 Billion in June 2023 to USD 2.82 Billion in June 2024.
Drugs and pharmaceutical exports also increase by 9.93 per cent from USD 2.25 Billion in June 2023 to USD 2.47 Billion in June 2024.
Coffee exports increase by 70.02 per cent from USD 0.12 Billion in June 2023 to USD 0.20 Billion in June 2024 and organic & inorganic chemicals exports increased by 3.32 per cent from USD 2.22 Billion in June 2023 to USD 2.29 Billion in June 2024.
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