India’s exports fell for the fourth straight month in June as shipments of key segments such as petroleum and textiles declined but the country’s trade turned surplus for the first time in 18 years as imports dropped by a steeper 47.59 per cent.

Exports in value terms declined 12.41 per cent to $21.91 billion in June on weak global demand because of Covid-19, official data released on Wednesday showed.

The outward shipments in June, however, recovered from a steeper decline of 60.28 per cent in April and 36.47 per cent in May.

Imports also plunged for the fourth month in a row by 47.59 per cent to $21.11 billion in June, leaving a trade surplus of $0.79 billion, the first time in the last 18 years.

Last time it was in January 2002 when India posted a trade surplus of $10 million.

Oil imports declined by 55.29 per cent to $4.93 billion in June. Gold imports plunged 77.42 per cent to $608.7 million.