Sequential contraction in India's merchandise exports eases in July

The contraction in India's exports narrowed further in July, on a sequential basis, as the country shipped out merchandise worth $23.64 billion.

The contraction, caused by Covid-19 pandemic, narrowed down to (-) 10.12 per cent in July from (-) 12.41 per cent in June.

In terms of sequential movement, the country's merchandise exports in June stood at $21.91 billion.

On a YoY basis, the country's exports fell during the month under review to $23.64 billion from $26.33 billion reported for the corresponding period of the previous year.

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"Non-petroleum and Non-Gems and Jewellery exports in July 2020 were $20.37 billion, as compared to $19.70 billion in July 2019, registering a positive growth of 3.40 per cent," the Ministry of Commerce and Industry said in a statement.

"Non-petroleum and Non-Gems and Jewellery exports in April-July 2020-21 were $64.29 billion, as compared to $79.81 billion for the corresponding period in 2019-20, which is a decrease of (-) 19.45 per cent."