InvestorQ : How does the preliminary trade data for the month of June 2022 look like?
Niti Shenoi made post

How does the preliminary trade data for the month of June 2022 look like?

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ishika Banerjee answered.
1 month ago
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As per the preliminary data put out by the Ministry of Commerce, the merchandise exports for the month of June 2022 was up 17% at $37.94 billion. This is just tentative figures and the final numbers will only be out around the middle of July. However, the sharp spike in exports was offset by a sharper growth in merchandise imports at $63.58 billion. As a result, the merchandise trade deficit surged to an all-time high of $25.63 billion.

For the first quarter of FY23 ended June 2022, the cumulative exports were up 22.2% yoy at $116.77 billion. At the same time, the imports were up 47.3% to $187.02 billion in the June quarter. That pre-supposes a quarterly trade deficit of $70 billion, which could take the full year deficit closer to $300 billion for FY23, and impair the forex reserve cover expressed as the number of months it covers merchandise imports.

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