New Delhi: Contracting for the fifth straight month, India's exports slipped 10.21 per cent to USD 23.64 billion in July, on account of decline in the shipments of petroleum, leather and gems and jewellery items, according to the government data released on Friday.
However, the outward shipments in July recovered from a steeper decline of 60.28 per cent in April, 36.47 per cent in May, and 12.41 per cent in June.
The country's imports too dipped 28.4 per cent to USD 28.47 billion in July, leaving a trade deficit of USD 4.83 billion, compared to a shortfall of USD 13.43 billion in the same month last year, as per the data.
In June, the country had reported its first trade surplus in over 18 years.
Oil imports declined by 31.97 per cent to USD 6.53 billion in the month under review. Gold imports grew by 4.17 per cent to USD 1.8 billion.
Major commodities that have recorded negative growth during July include petroleum products (-51.54 per cent), gems and jewellery (-49.61 per cent), leather (-26.96 per cent), man-made yarn/fabs/made-ups (-23.33 per cent), ready-made garments of all textiles (-22 per cent), and cashew (-21.25 per cent).
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
Import segments that showed negative growth in July include machinery, electrical and non-electrical; chemicals and electronic goods.
During the April-July period, exports declined by 30.21 per cent to USD 74.96 billion, while imports fell 46.7 per cent to USD 88.91 billion. Trade deficit during the period stood at USD 13.95 billion.
Oil imports during the period dipped by 55.88 per cent to USD 19.61 billion. Non-oil imports declined by 43.36 per cent to USD 69.3 billion.