Exports rise 2.25% to $26.3 bn in July, imports down 10.4%; trade deficit narrows to $13.4 bn

New Delhi: India’s exports grew by 2.25 percent to $26.33 billion in July, government data showed on Wednesday. Imports, however, slipped by 10.43 percent to $39.76 billion, narrowing trade deficit to $13.43 billion in July. The deficit was $18.63 billion in July last year.

Export sectors 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 decline 22.15 percent to $9.6 billion, and non-oil slipped by 5.92 percent to $30.16 billion. Cumulatively, during April-July 2019, exports dipped 0.37 percent to $107.41 billion, while imports were contracted by 3.63 percent to $166.8 billion. Gold imports dipped 42.2 percent to $1.71 billion in July.