: Merchandise exports rise 48.34% in June #finance #StockMarketNEWS Merchandise exports rise 48. 34% in June New Delhi, Jul 16 (KNN) India’s merchandise exports registered a growth of 48. 34%

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Merchandise exports rise 48.34% in June #finance #StockMarketNEWS
Merchandise exports rise 48. 34% in June New Delhi, Jul 16 (KNN) India’s merchandise exports registered a growth of 48. 34% in the month of June 2021.

Merchandise exports in June 2021 were USD 32. 50 Billion, as compared to USD 21. 91 Billion in June 2020. It exhibiting a positive growth of 48. 34 percent. Indian engineering exports were on their upward journey in June 2021 following the trend of the last two months, Ministry of Commerce & Industry said in a statement.

India’s engineering goods exports registered a growth of 52. 4% during the month of June 2021 as compared to the same period last year. With reference to June 2019, the growth witnessed (in June 2021) was 41. 9%.  

Engineering exports which stood at USD 6274. 9 Million in June, 2019 and USD 5841. 6 in June 2020 rose to USD 8903. 5 million in June 2021. Cumulative engineering exports during April-June 2021-22 were to the tune of USD 24772. 6 million, witnessing a massive growth of 82% vis-a-vis April-June 2020-21, and growth of 24. 8% vis-a-vis April-June 2019-20.

The panels which registered a significant growth of exports during April-June 2021 vis-a-vis April-June 2019 were Copper  and products (250. 4%); Iron and Steel (156. 6%); Zinc and products (83. 7%); Aluminium and products (69. 9%); Tin and products (55. 2%); Two and Three-wheeler(46. 6%); Lead and products (43. 4%); Other non-ferrous  Metals (33. 1%); Industrial Machinery for dairy, food processing, textiles (32%); IC Engines and Parts (22. 1%); and Auto components/parts (188%).

It is observed that, overall, the total exports (in the panels registering positive growth) rose from USD 13. 72 Billion in April-June 2019 to USD 19. 85 Million April-June 2021 (44. 7%).

Among the panels witnessing negative growth during April-June 2021 (vis-a-vis April-June 2019) included industrial machinery like boilers, parts, etc(-37. 5%); Nickel and products (-53. 3%); Air condition and refrigerator (-22. 1%); motor vehicles/cars (-21. 8%); Aircraft and spacecraft parts and products (-29%); ships boats and floating products and parts (-23. 2%) and other engineering products relating to railway transport;  prime mica and mica products; and office equipment, etc.

It is observed that, overall, in value terms, the aggregate exports in these panels fell from USD 6. 12 Billion in April-June 2019 to USD 4. 73 Billion April-June 2021 (-22. 7%).

The automobile sector (comprising of Motor Vehicles/Cars, Two and Three-wheelers and also Auto components/parts) registered a growth of 1. 7% in the first quarter of the current year vis-à-vis the same period of 2019-2020.

With reference to the first quarter of 2020-21, the growth in exports in the current year in the sector is seen to be 195%.

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