Exports rise 11.6 per cent, gold imports fall in July

Snapping two straight months of decline, exports grew 11.64 per cent to $25.83 billion in July on the back of demand from Africa, Asean and Far East regions.

Imports also declined by 6.2 per cent to $38.1 billion during the month, leaving a trade deficit of $12.2 billion. Trade deficit was at $17.47 billion in July last year.

Gold and silver imports stood at $2.9 billion in July, down from $4.4 billion in the same period last year.

Oil imports in July declined by 8 per cent to $12.7 billion and during April-July period it grew by 2.65 per cent to $54.5 billion.

Commerce Secretary S R Rao said exports to regions like Africa, ASEAN and Far East are helping the country's shipments to grow.

During April-July this financial year, exports grew by 1.72 per cent to $98.2 billion. Imports too increased by 2.82 per cent to $160.7 billion during the period.

Trade deficit during the first four months of this financial year stood at $62.4 billion.

With inputs from PTI