Trade Monitor – Faster Import Growth Causes Trade Deficit Of $9.4 Billion In June: ICICI Securities

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India’s imports grew 96% YoY to $41.86 billion in June 2021 while exports grew 47% YoY to $32.5 billion.

As a result, the country recorded a trade deficit of $9.4 billion in June 2021, down from a small surplus of $740 million in June 2020.

In sequential terms, imports grew 8.6% while exports grew 0.6%.

In YoY terms, there was a deterioration of $10.1 billion on the trade balance front (deficit of $9.4 billion in June 2021 from a surplus of $740 million in June 2020).

Out of this, higher imports contributed $20.5 billion while higher exports contributed $10.4 billion.

In sequential terms, trade deficit worsened by $3.1 billion (from $6.2 billion in May 2021).

Click on the attachment to read the full report:

ICICI Securities Trade Monitor June.pdf


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