India’s exports grow by 47.19% to $35.17 billion in July: Commerce Ministry
Imports during the month also rose by 59.38 per cent to $46.40 billion, leaving a trade deficit of $11.23 billion
The provisional data of the commerce ministry showed that India’s exports grew by 47.19 per cent to $35.17 billion in July on account of healthy growth in the outbound shipments of petroleum, engineering, and gems and jewellery. Imports during the month also rose by 59.38 per cent to $46.40 billion, leaving a trade deficit of $11.23 billion.
As per the data, exports of petroleum, engineering, and gems and jewellery in July increased to $3.82 billion, $2.82 billion and $1.95 billion respectively. However, exports of oilseeds, rice and meat, dairy and poultry products have recorded negative growth in the month under review. Imports of petroleum, crude, and products rose by 97 per cent to $6.35 billion.
Similarly, imports of gold were up by 135.5 per cent to $2.42 billion and pearls, precious and semi-precious stones inbound shipments stood at $1.68 billion in July. However, imports of transport equipment, project goods and silver have recorded negative growth in July. Further exports to the US, UAE, and Belgium increased to $2.4 billion, $1.21 billion and $489 million in July.