Exports up 11.6% y/y to $25.83 billion in July: Government

NEW DELHI: Exports grew by 11.64 per cent to $25.83 billion in July, snapping two consecutive months of decline, on the back of demand from Africa, Asean and Far East regions. 

Imports also declined by 6.2 per cent to $38.1 billion during the month, leaving atrade deficit of $12.2 billion. Trade deficit was at $17.47 billion in July last year. 

Gold and silver imports stood at $2.9 billion in July, down from $4.4 billion in the same period last year. 

Commerce Secretary S R Rao said exports to regions like Africa, ASEAN and Far East are helping the country's shipments to grow. 

During April-July this fiscal, exports grew by 1.72 per cent to $98.2 billion. Imports too increased by 2.82 per cent to $160.7 billion during the period. 

Trade deficit during the first four months of this iscal stood at $62.4 billion. 

Oil imports in July declined by 8 per cent to $12.7 billion and during April-July period it grew by 2.65 per cent to $54.5 billion