Exports rise 2.25% in July; trade deficit narrows

Export sectors that recorded positive growth in the last month include chemical, iron, and pharmaceuticals.

New Delhi: India's exports grew by 2.25 per cent to USD 26.33 billion in July, government data showed on Wednesday.

Imports, however, slipped by 10.43 per cent to USD 39.76 billion, narrowing trade deficit to USD 13.43 billion in July.

The deficit was USD 18.63 billion in July last year.

Export sectors that recorded positive growth in the last month include chemical, iron, and pharmaceuticals.

Shipments of gems and jewellery, engineering goods, petroleum products recorded negative growth, according to the data.

Oil imports decline 22.15 per cent to USD 9.6 billion, and non-oil slipped by 5.92 per cent to USD 30.16 billion.

Cumulatively, during April-July 2019, exports dipped 0.37 per cent to USD 107.41 billion, while imports were contracted by 3.63 per cent to USD 166.8 billion.

Gold imports dipped 42.2 per cent to USD 1.71 billion in July.