India’s merchandise exports registered a positive growth of 2.55% at $35.20 Billion in June 2024 as compared to USD 34.32 billion in June 2023, the government data revealed on Monday.
The merchandise exports during June 2024 were USD 35.20 billion as compared to USD 34.32 Billion in June 2023 while they were USD 56.18 billion as compared to USD 53.51 billion in June 2023.
The data from the ministry highlighted that the merchandise trade deficit during April-June 2024 was USD 62.26 billion compared to USD 56.16 billion during April-June 2023.
The Merchandise exports during April-June 2024 were USD 109.96 billion as compared to USD 103.89 billion during April-June 2023 while the imports were USD 172.23 billion compared to USD 160.05 Billion.
India’s total exports (merchandise and services combined) for June 2024 is estimated at USD 65.47 billion, registering a positive growth of 5.40% vis-à-vis June 2023.
The total imports for June 2024 are estimated at USD 73.47 billion, a positive growth of 6.29% vis-à-vis June 2023.
Further, India’s total exports during April-June 2024 is estimated at USD 200.33 billion registering a positive growth of 8.60% while the total imports are estimated at USD 222.89 billion registering a growth of 8.47%.
Non-petroleum and non-gems & jewellery exports in June 2024 were USD 27.43 billion compared to USD 25.29 billion in June 2023 while the imports were USD 36.04 billion compared to USD 33.66 Billion.
The estimated value of services export for June 2024 is USD 30.27 billion as compared to USD 27.79 billion in June 2023 and the imports are USD 17.29 billion as compared to USD 15.61 billion.
According to the data shared by the Ministry of Commerce & Industry, the top 5 export destinations, in terms of change in value, exhibiting positive growth in June 2024 vis-a-vis June 2023 are USA (5.98%), UAE (13.81%), Malaysia (93.82%), Bangladesh (25.2%) and Tanzania (59.13%).