India’s exports dipped by 10.21% to $23.63 billion in July, says govt data

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New Delhi: 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 in the shipments of petroleum, leather and gems and jewellery items, according to the government data released on Friday.

The country’s imports too dipped 28.4 per cent to USD 28.47 billion in July, leaving a trade deficit of USD 4.83 billion, compared to a shortfall of USD 13.43 billion in the same month last year, as per the data.

The outward shipments in July, however, 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 in the month under review. Gold imports grew by 4.17 per cent to USD 1.8 billion.

During the April-July period, exports declined by 30.21 per cent to USD 74.96 billion, while imports fell 46.7 per cent to USD 88.91 billion. Trade deficit during the period stood at USD 13.95 billion.

Also read: India’s iron ore exports rise to 8-year high on China’s 20 million-tonne purchase till June


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