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Updated on: Saturday, August 14, 2021, 12:14 AM IST

Exports surge 49.85% in July to $35.43 bn; trade deficit widens at $10.97 bn

PTI
Imports during July 2021 rose by about 63 per cent to $46.40 billion, as per the data released by commerce ministry/ Representational image |

Imports during July 2021 rose by about 63 per cent to $46.40 billion, as per the data released by commerce ministry/ Representational image |

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The country's exports surged 49.85 per cent to $35.43 billion in July on account of healthy growth in petroleum, engineering, and gems and jewellery segments, even as the trade deficit widened to $10.97 billion during the month, official data showed on Friday.

Imports during the month also rose by about 63 per cent to $46.40 billion, as per the data released by the commerce ministry.

"The trade balance for July 2021 was estimated at $ (-) 10.97 billion as against $ (-) 4.83 billion in July 2020, which is a decline of 127.37 per cent," the ministry said in a statement.

Oil imports soared by 97.45 per cent to $ 12.89 billion.

Exports during April-July 2021-22 rose by 74.5 per cent year-on-year to $130.82 billion, as against $75 billion in the same period last year.

Imports during the first four months of the fiscal increased by 94 per cent to $172.5 billion.

Commenting on the data, Federation of Indian Export Organisations (FIEO) President A Sakthivel said the global demand during this period has also remained buoyant as the order booking positions of exporters have been impressive.

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Published on: Saturday, August 14, 2021, 12:14 AM IST
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