*Amid Demand Slump, India Records Rare Trade Surplus In June*
The trade surplus for June stood at $0.79 billion as compared to a deficit of $3.15 billion in May 2020. In June 2019, the trade deficit stood at $15.28 billion.
Merchandise exports fell 12.41% year-on-year in June to $21.9 billion. The fall was steeper at 36.47% in May. Merchandise imports fell 47.59% to $21.1 billion in June, compared to a contraction of 51.05% last month.
Non-oil, non-gold imports fell 41.37% to $15.57 billion in June 2020.
The decline steepened compared to a 33.47% drop in May.
*Key Export Items*
Iron ore exports rose 63.11%
Exports of oil seeds rose 50.48% Organic & inorganic chemicals rose 19.06%
Gems & jewellery contracted by 50.06% Leather & leather products fell by 40.47%
Ready made garments fell 34.84%
*Key Import Items*
Gold imports contracted by 77.4% Coal, coke and briquettes contracted by 55.7%
Petroleum, crude and and products contracted by 55.29%
Machinery, electrical & non-electrical fell 42.02%
Electronic goods contracted fell 34.05%