India’s exports stood at $22.54 billion (Rs 1,45,308 crore) in the month of July compared with $21.68 billion (Rs 1,45,770 crore) in July 2016, the Ministry of Commerce and Industry revealed in an official press release on Tuesday. In dollar terms, this was a growth of 3.94%, but in rupee terms, this means the rate actually fell by 0.32%.
In comparison, imports rose by 15.42% in dollar terms at $33.99 billion (Rs 2,19,108 crore) in July 2017 compared with July 2016, when they were valued at $29.45 billion (Rs 1,97,932 crore). In rupee terms, this was a 10.70% jump.
As a result, India’s trade deficit widened to $11.44 billion (Rs 73,37,044 crore) in July this year, compared with $7.76 billion (Rs 49,76,876 crore) the same month last year. This was led by an increase in the import of gold, petroleum, pearls and precious stones, machinery and iron and steel.
Some of the commodities that had strong exports in July were engineering goods, petroleum products, organic and inorganic chemicals, fabrics and handloom products and marine products.
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