Indian Economy News

Exports up 2.14% to $36.27 bn in July; trade deficit at record $30 bn

  • IBEF
  • August 16, 2022

According to official data released, India's exports increased by 2.14% to US$ 36.27 billion in July, while the trade deficit nearly tripled to US$ 30 billion due to a 70% increase in crude oil imports. Imports increased by 43.61% to US$ 66.27 billion in July 2022. In July 2021, the trade deficit was US$ 10.63 billion.

Exports increased by 20.13% to US$ 157.44 billion between April-July 2022-23. Imports increased by 48.12% during the four months to US$ 256.43 billion. The trade deficit was at US$ 98.99 billion compared to US$ 42 billion in April-July 2021-22. Imports of crude and petroleum products were US$ 21.13 billion in July this year, up 70.4% from US$ 12.4 billion in July 2021.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.