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Indian exports fall by 6.84% in July

Trade deficit for April-July also fell to $27 bn against $45.98 bn in April-July of 2015-16

Policy Pulse
Publish Date: Aug 13 2016 1:50PM | Updated Date: Aug 13 2016 1:50PM

Indian exports fall by 6.84% in July

 India's merchandise exports in July fall 6.84 percent to $21.69 billion as against $23.28 billion in the corresponding month of 2015, official data showed.

 
Country's imports in July dipped 19.03 percent to $29.45 billion, compared with $36.37 billion in the same month last year.
 
Trade deficit for April-July also declined to $27 billion against $45.98 billion in April-July of 2015-16.
 
"Non-petroleum exports in July 2016 are valued at $19.19 billion against $20.09 billion in July 2015, a decrease of 4.46 per cent," a Commerce Ministry statement said in the national capital. 
 
Cumulatively, for the April-July, exports were down 3.62 per cent in dollar terms at $87 billion, against $90.27 billion over the same period last year.
 
Imports for April-July were worth more than $114 billion, which was a 16.33 per cent fall from $ 136.25 billion worth recorded for the same period a year ago.
 
Lower global crude prices meant oil imports during the same month under review dipped by 28.10 per cent to $ 6.82 billion from $9.49 billion in the corresponding month of last year.
 
For April-July, crude oil imports plunged by 25.01 per cent at $25.67 billion from $34.22 billion in the corresponding period last year.
 
Reserve Bank data on Friday showed India's services exports in June fell 1.03 per cent at $13.32 billion as compared to a positive growth of 4.28 per cent in May 2016.