India’s July Exports Rise 19.6% To $44.24 Billion, Trade Deficit Widens To $31.98 Billion

India’s merchandise exports increased 19.63% year-on-year to $44.24 billion in July, while imports rose 17.52% to $76.22 billion. As a result, the country’s trade deficit expanded to $31.98 billion during the month.

April-July trade performance

For the April-July period of the current financial year, exports grew 17.04% to $173.78 billion. Imports during the period increased 19.27% to $292.38 billion.

Commerce Secretary Rajesh Agarwal said India’s exports to West Asian countries also registered growth, rising 8.62% to $5.7 billion in July.

He attributed the overall increase in outbound shipments to stronger exports of petroleum products, electronics, engineering goods and marine products. The rise in exports comes despite the widening merchandise trade gap, driven by faster growth in the value of imports.