The country's exports rose 2.56 percent to $35.20 billion in June

New Delhi, July 15 (HS). The country's merchandise exports rose 2.56 percent to US $ 35.20 billion in June. Exports stood at $ 34.32 billion in the same month last year. At the same time, the combined export of total goods and services is estimated to be US $ 65.47 billion in June. Total imports (goods and services) for June 2024 are estimated to be US $ 73.47 billion, showing a positive growth of 6.29 percent as compared to June 2023.

In the data released on Monday, the Ministry of Commerce and Industry said that exports stood at $34.32 billion in the same month last year. Imports grew by about five percent to $56.18 billion in June, from $53.51 billion in the same period last year. Thus, the trade deficit (difference between imports and exports) stood at $20.98 billion in June. According to the ministry, India's combined exports (goods and services) for June 2024 are estimated to be US$65.47 billion, a positive growth of 5.40 percent compared to June 2023.

Giving information about the export figures, Commerce Secretary Sunil Barthwal said that given the current trend, the country's total export of goods and services can cross the $ 800 billion mark in the current financial year 2024-25. He said that during the first quarter (April-June) of the financial year 2024-25, the export of goods and services was around US $ 200 billion. According to the Ministry of Commerce, during the April-June quarter in the current financial year 2024-25, exports grew by 5.84 percent to $ 109.96 billion and imports grew by 7.6 percent to $ 172.23 billion.

It is worth noting that in May, the country's export of goods had increased by 9.1 percent to $ 38.13 billion, while the trade deficit had increased to a seven-month high of $ 23.78 billion.