Economy

Export growth in second week of June slows down to 39.78%

Our Bureau New Delhi | Updated on June 16, 2021

Imports post higher growth of 113.98%

India’s goods exports continued on the growth path in the second week of June 2021, increasing 39.78 per cent (year-on-year) to $6.35 billion but slowed down in comparison to the first week of the month, according to weekly trade trends calculated by the Commerce & Industry Ministry.

Imports registered a steeper growth of 113.98 per cent to $10.48 billion in June 8to 14, 2021 over the same period of 2020-21, which was higher than its performance in the first week of the month.

Exports in the second week of June 2021 were 16.64 per cent higher than exports in the same period of 2019-20 (valued at $5.44 billion) and was unaffected by the Covid-19 pandemic, indicating that the weekly growth in the current fiscal was not just because of a low base effect.

The Commerce Ministry will share the disaggregated data with product details when it puts together trade data for the entire month.

According to exporters body FIEO, exports are showing a rising trend this fiscal due to an improvement in the orders book as well as a gradual opening of the global market that is emerging from the negative effects of the pandemic.

In the first week of June (1 to 7) 2021, exports were valued at $7.71 billion, posting a growth of 52.39 per cent. Overall exports in the first half of June 2021 (1 to 14) have grown by 46.43 per cent with shipments valued at $14.06 billion, according to preliminary calculations. This was lower than the export growth of 69.35 per cent recorded in May 2021 valued at $32.27 billion.

Imports in the first seven days of June 2021 increased by 98.33 per cent to $19.59 billion compared to the first seven days of June 2020. In May 2021, imports had risen by 73.64 per cent to $38.55 billion.

Exports, excluding POL, also increased in the second week of June 2021 by 37.99 per cent over the same period of 2020-21 and up by 20.43 per cent over the comparable period of 2019-20.

Imports excluding petroleum increased in this period (June 8 to 14, 2021) by 73.01 per cent over the same period of last year and down by 8.98 per cent over the comparable period of 2019-20.

Published on June 16, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor