July trade deficit dips marginally on 7.33% export growth and 4.25% import rise

After registering double digit growth for two consecutive months, India’s exports grew by 7.33 per cent to $27.72 billion in July, while imports rose by 4.25 per cent to $39.95 billion. Trade deficit marginally narrowed down to $12.22 billion during the month under review from $12.49 billion, according to the Ministry of Commerce and Industry’s data. Exports in May and June registered a growth of 12.4 per cent and 10.22 per cent, respectively. In the April-July period, exports grew by 8.62 per cent to $107.8 billion. Imports, however, dipped by 3.8 per cent to $153.15 billion during the first four months of this financial year.