(Representative picture)
NEW DELHI: Contracting for the fifth straight month, India’s exports slipped 10.21 per cent to $23.64 billion in July, on account of decline in the shipments of petroleum, leather-based and gems and jewelry objects, in accordance to the federal government information launched on Friday.
The nation’s imports too dipped 28.Four per cent to $28.47 billion in July, leaving a trade deficit of $4.83 billion, in contrast to a shortfall of $13.43 billion in the identical month final 12 months, as per the information.
The outward shipments in July, nonetheless, recovered from a steeper decline of 60.28 per cent in April, 36.47 per cent in May, and 12.41 per cent in June.
Oil imports declined by 31.97 per cent to $6.53 billion in the month below evaluate. Gold imports grew by 4.17 per cent to $1.8 billion.
During the April-July interval, exports declined by 30.21 per cent to $74.96 billion, whereas imports fell 46.7 per cent to $88.91 billion. Trade deficit throughout the interval stood at $13.95 billion.