Trade Monitor - Faster Import Growth Causes Trade Deficit Of $9.4 Billion In June: ICICI Securities

Gantry cranes stand at the Jawaharlal Nehru Port, operated by Jawaharlal Nehru Port Trust (JNPT), in Navi Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Trade Monitor - Faster Import Growth Causes Trade Deficit Of $9.4 Billion In June: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

India’s imports grew 96% YoY to $41.86 billion in June 2021 while exports grew 47% YoY to $32.5 billion.

As a result, the country recorded a trade deficit of $9.4 billion in June 2021, down from a small surplus of $740 million in June 2020.

In sequential terms, imports grew 8.6% while exports grew 0.6%.

In YoY terms, there was a deterioration of $10.1 billion on the trade balance front (deficit of $9.4 billion in June 2021 from a surplus of $740 million in June 2020).

Out of this, higher imports contributed $20.5 billion while higher exports contributed $10.4 billion.

In sequential terms, trade deficit worsened by $3.1 billion (from $6.2 billion in May 2021).

Click on the attachment to read the full report:

ICICI Securities Trade Monitor June.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.