Trade Deficit Narrows To $13.43 Billion In July

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Gold imports dipped 42.2 per cent to $1.71 billion in July.

India’s exports grew by 2.25 per cent to $26.33 billion in July, government data showed on Wednesday. Imports, however, slipped by 10.43 per cent 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 declined 22.15 per cent to $9.6 billion, and non-oil slipped by 5.92 per cent to $30.16 billion.

Cumulatively, during April-July 2019, exports dipped 0.37 per cent to $107.41 billion, while imports were contracted by 3.63 per cent to $166.8 billion.    

Gold imports dipped 42.2 per cent to $1.71 billion in July.

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