New Delhi: Country’s export It rose 49.85 percent to $35.43 billion in July due to healthy growth in the petroleum, engineering, and gems and jewelery sectors. trade deficit Official data on Friday showed it rose to $10.97 billion during the month.
Imports also rose nearly 63 per cent to $46.40 billion during the month, according to data released by the commerce ministry.
“The trade balance for July 2021 stood at $(-) 10.97 billion as against $(-)4.83 billion in July 2020, which is a decline of 127.37 per cent,” the ministry said in a statement.
Oil imports rose 97.45 percent to $12.89 billion.
Exports during April-July 2021-22 grew by 74.5 per cent year-on-year to $130.82 billion as compared to $75 billion in the same period last year.
During the first four months of the fiscal year, imports rose 94 percent to $172.5 billion.
Oil imports stood at $43.90 billion in April-July 2021, an increase of 123.84 percent as compared to $19.61 billion in the same period last year.
Gold imports rose to $4.2 billion in July from $1.78 billion in the same month of 2020.
Commenting on the figures, Federation of Indian Export Organization (FIEO) President A Sakthivel said exports in July were the highest in the last nine years.
“It is also an indication that global trade is improving rapidly. Global demand has also remained bullish during this period as the order booking position of exporters remains impressive,” he added.
Exim Bank Chief General Manager (Research and Analysis) Prahlathan Iyer said that July has seen record levels of exports.
“The cumulative exports of $130.8 billion in the first four months and the export level of $7.4 billion in the first week of August 2021 reflect India’s ability to easily reach the target of $400 billion,” he said.
Imports also rose nearly 63 per cent to $46.40 billion during the month, according to data released by the commerce ministry.
“The trade balance for July 2021 stood at $(-) 10.97 billion as against $(-)4.83 billion in July 2020, which is a decline of 127.37 per cent,” the ministry said in a statement.
Oil imports rose 97.45 percent to $12.89 billion.
Exports during April-July 2021-22 grew by 74.5 per cent year-on-year to $130.82 billion as compared to $75 billion in the same period last year.
During the first four months of the fiscal year, imports rose 94 percent to $172.5 billion.
Oil imports stood at $43.90 billion in April-July 2021, an increase of 123.84 percent as compared to $19.61 billion in the same period last year.
Gold imports rose to $4.2 billion in July from $1.78 billion in the same month of 2020.
Commenting on the figures, Federation of Indian Export Organization (FIEO) President A Sakthivel said exports in July were the highest in the last nine years.
“It is also an indication that global trade is improving rapidly. Global demand has also remained bullish during this period as the order booking position of exporters remains impressive,” he added.
Exim Bank Chief General Manager (Research and Analysis) Prahlathan Iyer said that July has seen record levels of exports.
“The cumulative exports of $130.8 billion in the first four months and the export level of $7.4 billion in the first week of August 2021 reflect India’s ability to easily reach the target of $400 billion,” he said.
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