India: Merchandise export growth moderates in June
July 15, 2021
Merchandise exports jumped 48.2% in annual terms in June, following May’s 69.4% upturn. Meanwhile, merchandise imports shot up 98.3% over the same month last year in June (May: +73.6% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 9.4 billion shortfall in June (May 2021: USD 6.3 billion deficit; June 2020: USD 0.8 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 120.2 billion deficit in June, compared to the USD 110.0 billion deficit in May.