Rapid Turnaround of Exports: Realising PM
@NarendraModi jis vision of Atmanirbhar Bharat, for the first time in 18 years, India records a monthly goods trade surplus in June!
India recorded a trade surplus in June for the first time in more than 18 years as the domestic demand slump following the coronavirus outbreak hit imports harder than exports, showed data released on Wednesday by the commerce ministry.
In June, merchandise exports contracted 12.4%, while imports dipped 47.6%, leading to a trade surplus of $790 million. The drop in exports belied initial hopes that outbound shipments will turn a corner in June.
Last month, trade minister Piyush Goyal had tweeted that exports of $4.94 billion in the first week of June was almost at the same level ($5.03 billion) of the year-ago period. Exports of 12 out of 30 major items turned positive during the month. The narrowing of exports contraction was led by growth in exports of pharmaceuticals (9.9%), chemicals (19.1%), iron ore (63.1%), rice (32.7%), cereals (19.3%) and fruits and vegetables (11%).
For more visit: https://pib.gov.in/PressReleasePage.aspx?PRID=1638804
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Rapid Turnaround of Exports: Realising PM @NarendraModi jis vision of Atmanirbhar Bharat, for the first time in 18 years, India records a monthly goods trade surplus in June! ---------------------------------------------------------------------------------- India recorded a trade surplus in June for the first time in more than 18 years as the domestic demand slump following the coronavirus outbreak hit imports harder than exports, showed data released on Wednesday by the commerce ministry. In June, merchandise exports contracted 12.4%, while imports dipped 47.6%, leading to a trade surplus of $790 million. The drop in exports belied initial hopes that outbound shipments will turn a corner in June. Last month, trade minister Piyush Goyal had tweeted that exports of $4.94 billion in the first week of June was almost at the same level ($5.03 billion) of the year-ago period. Exports of 12 out of 30 major items turned positive during the month. The narrowing of exports contraction was led by growth in exports of pharmaceuticals (9.9%), chemicals (19.1%), iron ore (63.1%), rice (32.7%), cereals (19.3%) and fruits and vegetables (11%). For more visit: https://pib.gov.in/PressReleasePage.aspx?PRID=1638804