Exports Rises 24% to $9.4 Billion During June 1-7

India's exports increased 24.18 percent year on year to $9.4 billion in the first week of June, led by engineering goods, gems and jewellery, and petroleum products, officials said on Wednesday. Imports were $16 billion, up 76.9 percent from the previous year, leaving a $6.6 billion trade deficit, they said.

"Around 80% of export growth came from non-petroleum products while 80% of import growth came from natural resources such as petroleum, coal and gold," said an official. In the first week of June 2021, outbound shipments totaled $7.56 billion.

In May, India's goods exports increased 15.46 percent year on year to $37.29 billion. Outbound shipments of gems and jewellery, engineering goods, petroleum products, and electronic goods increased by 84.3 percent, 25.7 percent, 20.4 percent, and 73.5 percent, respectively, from June 1 to 7. However, exports of plastic and linoleum fell 27.3 percent year on year.

Petroleum, crude, coal, coke and briquettes, gold, and chemicals are among the major imports that have increased in value. Gold imports increased 391.9 percent in the first week of June, while petroleum and coal imports increased 207 percent and 253.8 percent, respectively.