Trade deficit at 4-month low, goods exports flat
India's goods exports remained flat at $35.1 billion in June, while imports decreased by 3.8% to $53.9 billion, narrowing the trade deficit to $18.8 billion. The import dip was driven by declines in gold, crude petroleum, diamond, and coal shipments. Despite a 16% drop in petroleum product exports, cumulative exports rose 6.6%, fueled by a 14% increase in services.
India's goods exports remained flat at $35.1 billion in June, while imports decreased by 3.8% to $53.9 billion, narrowing the trade deficit to $18.8 billion. The import dip was driven by declines in gold, crude petroleum, diamond, and coal shipments. Despite a 16% drop in petroleum product exports, cumulative exports rose 6.6%, fueled by a 14% increase in services.
