India’s exports rise by 49.85% to $35.43 billion, trade deficit at $10.97 billion

The country’s exports surged 49.85 per cent to USD 35.43 billion in July on account of healthy growth in petroleum, engineering, and gems and jewellery segments, even as the trade deficit widened to USD 10.97 billion during the month, official data showed on Friday.
Imports during the month also rose by about 63 per cent 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 per cent,” the ministry said in a statement.