India a small net exporter after 18 yrs even as merchandise shipments dip

Country may see current account surplus for the second quarter in a row in Q1 of FY21

The country saw a minor trade surplus in June for the first time in 18 years even as merchandise exports continued to shrink for the fourth month in a row, albeit at much lower rate than the preceding three months.

Exports of $21.91 billion and imports of $21.11 billion resulted in a surplus of around $800 million in trade balance in June. India is generally a net importer, and the country had a trade surplus last in January 2002, when it stood at $10 million. 

However, India is a net exporter in services. If one sees estimated services figures, there was a