The country’s trade deficit reached a record level in June, exports also increased

The country’s exports of goods grew by 16.78 percent year-on-year to $ 37.94 billion in June.

The country’s exports of goods grew by 16.78 percent year-on-year to $ 37.94 billion in June. During this time the trade deficit has also gone up to a record $ 25.63 billion.

country’s export of goods (Export) In June, it grew 16.78 percent year-on-year to $ 37.94 billion. trade deficit during this (Trade deficit) The record has also gone up to $ 25.63 billion. According to the preliminary export data released by the government on Monday, in June, the country’s Import (Import) 51 percent increased. Compared to June 2021, the country imported $ 63.58 billion last month. June 2022 with (June Trade Data) The country’s trade deficit has increased to $ 25.63 billion. In June last year, the trade deficit stood at $ 9.61 billion.

increase in imports

The country’s exports grew 22.22 percent to $ 116.77 billion in the first three months of the current financial year i.e. April-June quarter. Imports grew 47.31 per cent to $187.02 billion in the same period.

In this way, the country’s trade deficit reached $ 70.25 billion in the first quarter of the financial year 2022-23. It stood at $31.42 billion in the same quarter a year ago.

Apart from this, let us tell you that the Ministry of Commerce is preparing to bring a new five-year Foreign Trade Policy (FTP) before September this year. A plan to convert each district into an export hub will also be part of the document. Giving this information, an official said that the purpose of FTP will be export promotion and employment generation. The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce is preparing this policy. He will soon send this proposal to the Finance Ministry for the allocation of funds for the scheme.

The official said that under this scheme, initially 50 such districts will be focused, whose products can be taken forward and which have huge export potential. DGFT selects these districts through competition. The official said that the states and districts which want to get financial incentives under this scheme have to compete for it. There are a total of 750 districts in the country. The official said that it will be a kind of competition between the states and the districts. He said that we will come up with detailed guidelines for this. This scheme will also be included in FTP.

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