Export up 3.94 pc in July; trade deficit widens

Import too rose by 15.42 per cent to $34 billion in July from $29.45 billion in the year-ago month due to rise in inward shipments of crude oil and gold. 

A rise in gold import shot up the country’s trade deficit to $11.44 billion in the month under review from $7.76 billion in July 2016, the data released by the commerce ministry showed. 

Gold import increased by 95 per cent to $2.10 billion in July against $1.07 billion in the same month last year. Oil import was valued at $7.84 billion in July, an increase of 15 per cent over the same month in 2016. 

Cumulative export during April-July of 2017-18 rose by 8.91 per cent to $94.75 billion while import increased by 28.30 per cent to $146.25 billion, leaving a trade deficit of $51.5 billion.