India's exports of goods surpassed all previous first-quarter records in April-June this year

India's monthly exports of goods totalled USD 37.94 billion in June 2022, a 16.78% increase over USD 32.49 billion in the same month the previous year, the Union Ministry of Commerce and Industry said on Monday. This was the highest-ever export value recorded for the month of June.

"India’s Exports Smashing Records

Merchandise exports break new records for the third month in a row, with June 2022 figures being the highest ever for the month.

‘Made In India' for the world is taking global markets by storm," Union Commerce and Industry Minister Piyush Goyal tweeted.

According to the latest official data, the first quarter of 2022–2023 saw a 22.2% increase in India's merchandise exports to USD 116.7 billion, becoming the largest first-quarter export total ever.

Exports of goods other than petroleum, gemstones, and jewellery totalled USD 26.75 billion in June 2022, an increase of 4% over June 2021's exports of USD 25.72 billion.

The three industries with the highest percentage growth in exports for June 2022 were petroleum products (98.01%), electronic goods (50.66%), and RMG of all textiles (44.67%).

Talking about imports, India imported 63.58 billion dollars’ worth of goods in June 2022, up 51.02% from 42.1 billion dollars in the same month the previous year. India imported USD 187.02 billion worth of goods from April to June 2022–23, a rise of 47.31% from USD 126.96 billion in the corresponding period in the previous year.

Non-petroleum imports increased in value from USD 31.42 billion in June 2021 to USD 42.84 billion in June 2022, a growth of 36.36%. On the other hand, non-oil and non-GJ imports increased in value by 31.71% from USD 27.87 billion in June 2021 to USD 36.7 billion in June 2022, reflecting positive growth.

During the months of April through June 2022–2023, India's trade deficit was 70.25 billion USD, compared to 25.63 billion USD in June 2022.