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India Trade Surplus: India posts first commerce surplus in 18 years as coronavirus hits imports

India posted a trade surplus of $790 million in June, its first in over 18 years, with imports plunging because the coronavirus pandemic hit domestic demand for crude oil, gold and different industrial merchandise, government data confirmed on Wednesday. Merchandise imports contracted 47.59% in June to $21.11 billion from a 12 months in the past, whereas exports fell 12.41% to $21.91 billion, resulting in a marginal commerce surplus, information launched by the ministry of commerce and industry confirmed.