India’s merchandise exports in July dipped 1.2 per cent to USD 33.98 billion from USD 34.39 billion in the year-ago month, according to government data released on Wednesday.
Imports increased by about 7.45 per cent to USD 57.48 billion in July against USD 53.49 billion a year ago.
The trade deficit, or the gap between imports and exports, during the month under review stood at USD 23.5 billion.
Briefing media on data, Commerce Secretary Sunil Barthwal said that going by the current trend, the country’s total exports of goods and services will cross last year’s figure.
India’s merchandise exports rose by 2.56 per cent to USD 35.2 billion in June, even as the trade deficit widened to USD 20.98 billion.
Exports during April-July this fiscal increased 4.15 per cent to USD 144.12 billion, and imports grew 7.57 per cent to USD 229.7 billion.
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