Exports fall 10.21% in July, commerce deficit narrows to $4.83 billion

NEW DELHI: Contracting for the fifth straight month, India’s exports slipped 10.21 per cent to $23.64 billion in July, on account of decline within the shipments of petroleum, leather-based and gems and jewelry gadgets, in line with the federal government knowledge launched on Friday.
The nation’s imports too dipped 28.Four per cent to $28.47 billion in July, leaving a commerce deficit of $4.83 billion, in comparison with a shortfall of $13.43 billion in the identical month final yr, as per the info.
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 $6.53 billion within the month underneath evaluate. Gold imports grew by 4.17 per cent to $1.eight billion.
During the April-July interval, exports declined by 30.21 per cent to $74.96 billion, whereas imports fell 46.7 per cent to $88.91 billion. Trade deficit through the interval stood at $13.95 billion.

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