Exports up 49.85 pc in July to USD 35.43 bn, trade deficit at USD 10.97 bn

Imports during the month also rose by about 63 percent to USD 46.40 billion, as per the data released by the commerce ministry. ''The trade balance for July 2021 was estimated at USD (-) 10.97 billion as against USD(-) 4.83 billion in July 2020, which is a decline of 127.37 percent,'' the ministry said in a statement. Oil imports soared by 97.45 percent to USD 12.89 billion. 

Exports during April-July 2021-22 rose by 74.5 percent year-on-year to USD 130.82 billion, as against USD 75 billion in the same period last year. Imports during the first four months of the fiscal increased by 94 percent to USD 172.5 billion. Commenting on the data, Federation of Indian Export Organisations (FIEO) President A Sakthivel said the global demand during this period has also remained buoyant as the order booking positions of exporters have been impressive.