India: Merchandise exports increase at a stronger rate in June
July 14, 2022
Merchandise exports jumped 23.5% year-on-year in June, following May’s 20.6% jump. Meanwhile, merchandise imports shot up 57.5% over the same month last year in June (May: +62.8% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 26.2 billion shortfall in June (May 2022: USD 24.3 billion deficit; June 2021: USD 9.6 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 229.3 billion deficit in June, compared to the USD 212.7 billion deficit in May.