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    Trade deficit narrows as exports rise 2.25 percent in July

    Trade deficit narrows as exports rise 2.25 percent in July

    Trade deficit narrows as exports rise 2.25 percent in July
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    By PTI  IST (Published)

    India's exports grew by 2.25 percent to USD 26.33 billion in July, government data showed on Wednesday.
    Imports, however, slipped by 10.43 percent to USD 39.76 billion, narrowing trade deficit to USD 13.43 billion in July. The deficit was USD 18.63 billion in July last year.
    The export sector that recorded positive growth in the last month includes chemical, iron and pharmaceuticals.
    Shipments of gems and jewellery, engineering goods, petroleum products recorded negative growth, according to the data.
    Oil imports declined 22.15 percent to USD 9.6 billion and non-oil slipped by 5.92 percent to USD 30.16 billion.
    Cumulatively, during April-July 2019, exports dipped 0.37 percent to USD 107.41 billion while imports were contracted by 3.63 percent to USD 166.8 billion.
    It’s noteworthy that gold imports dipped 42.2 percent to USD 1.71 billion in July.
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