IBEF: June 10, 2021
According to preliminary data of the commerce ministry, in the first week of June 2021 (June 1-7), exports from India increase by 52.39% to US$ 7.71 billion, driven by strong shipments growth from sectors including petroleum products, engineering, gems and jewellery.
For the same period, imports increased by ~ 83% to US$ 9.1 billion.
As per the data, exports of engineering increased by 59.7% to US$ 741.18 million, followed by gems and jewellery which increased by 96.38% to US$ 297.82 million and petroleum products which increased by 69.53% to US$ 530.62 million.
Imports of petroleum and crude oil increased by 135% to US$ 1.09 billion. Imports of electronic goods increased by 45.85% to US$ 324.77 million and pearls, precious and semi-precious stones increased by 111% to US$ 294 million.
Exports to the US increased by ~60% to US$ 500 million, UAE increased by 57.86% to US$ 173 million and Bangladesh increased by 212% to US$ 166.3 million.
Similarly, imports from China increased by 90.94% to US$ 809.53 million, the US increased by 89.45% to US$ 410.65 million, and UAE increased by 164.55% to ~ US$ 400 million.
In May 2021, exports from India increased by 67.39% to US$ 32.21 billion, driven by strong performance from sectors such as engineering, and petroleum products.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.