Strategy Note /
India

IN : Strategy - June 2021 quarter record high exports helped by the highest-ever quantity of petroleum exports, more to Asia and Africa

    CGS-CIMB
    30 August 2021
    Published byCGS-CIMB

    India’s record June ‘21 quarter exports amounting to USD 95.6 bn have been led by petroleum exports, besides agriculture and engineering goods. A volume-price analysis reveals that India exported the highest-ever petroleum products in the June’21 quarter, with help coming in from price effect as well. There is preliminary evidence of trade diversion as well; more petroleum is exported to Asia and Africa, due to freight rates and currency movements.