Exports fall 10.21 per cent in July, commerce deficit narrows to USD 4.83 billion

New Delhi, August 14

Contracting for the fifth straight month, India’s exports slipped 10.21 per cent to USD 23.64 billion in July, on account of decline within the shipments of petroleum, leather-based and gems and jewelry objects, in response to the federal government information launched on Friday.

The nation’s imports too dipped 28.Four per cent to USD 28.47 billion in July, leaving a commerce deficit of USD 4.83 billion, in comparison with a shortfall of USD 13.43 billion in the identical month final 12 months, as per the information.

The outward shipments in July, nevertheless, recovered from a steeper decline of 60.28 per cent in April, 36.47 per cent in May, and 12.41 per cent in June.

Oil imports declined by 31.97 per cent to USD 6.53 billion within the month below evaluation. Gold imports grew by 4.17 per cent to USD 1.eight billion.

During the April-July interval, exports declined by 30.21 per cent to USD 74.96 billion, whereas imports fell 46.7 per cent to USD 88.91 billion. Trade deficit through the interval stood at USD 13.95 billion. PTI


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