July exports decline 14.8% as global demand slows

India’s exports declined by 14.8 percent year-on-year to $22.4 billion in July this year due to the global demand slowdown.

In July 2011, the country’s shipment stood at $26.3 billion.

[caption id=“attachment_417518” align=“alignleft” width=“380”]  Reuters[/caption]

Imports too contracted during the month by 7.61 percent to $37.9 billion, leaving a trade deficit of $15.5 billion, DGFT Anup Pujari told reports here.

During the April-July period of 2012-13, exports have shrunk by 5.06 percent to $80.4 billion. Imports during the period dipped by 6.47 per cent to $153.2 billion.

Exports have fallen from year-earlier levels in four out of the last five months.

“Last month, exports have fallen more than imports. This is the highest fall this fiscal,” Pujari said.

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