Imports fall 6.2% from a year earlier to $38.1 billion
At last, India got good news on exports front. After two straight months of contraction, exports from India rose a whopping 11.64% at $25.83 billion in July 2013 against $23.14 billion in the same month of the previous year.
Besides, India's inbound shipments were down 6.2% to $38.10 from $40.62 billion over this period, pulled down by inbound shipments of gold. Imports of gold fell to $2.9 billion from $4.9 billion in this period.
As such, trade deficit fell to $12.27 billion in July versus $17.62 billion in the same month a year ago.
With this, total exports were up 1.72% at $98.29 billion in the first four months of the current financial year against $96.63 billion in the corresponding period a year ago. Imports, on the other hand, were up 2.82% at $160.74 billion against $156.33 billion over this period.
As such, trade deficit widened to $62.45 billion against $59.7 billion over this period. While, July figures will give comfort on account of larger current account deficit, which is giving headache to the government, the cumulative deficit is yet to be brought under control.
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.
Oil imports in July declined by 8% to $12.7 billion and during April-July period it grew by 2.65% to $54.5 billion.
At last, India got good news on exports front. After two straight months of contraction, exports from India rose a whopping 11.64% at $25.83 billion in July 2013 against $23.14 billion in the same month of the previous year.
Besides, India's inbound shipments were down 6.2% to $38.10 from $40.62 billion over this period, pulled down by inbound shipments of gold. Imports of gold fell to $2.9 billion from $4.9 billion in this period.
As such, trade deficit fell to $12.27 billion in July versus $17.62 billion in the same month a year ago.
With this, total exports were up 1.72% at $98.29 billion in the first four months of the current financial year against $96.63 billion in the corresponding period a year ago. Imports, on the other hand, were up 2.82% at $160.74 billion against $156.33 billion over this period.
As such, trade deficit widened to $62.45 billion against $59.7 billion over this period. While, July figures will give comfort on account of larger current account deficit, which is giving headache to the government, the cumulative deficit is yet to be brought under control.
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.
Oil imports in July declined by 8% to $12.7 billion and during April-July period it grew by 2.65% to $54.5 billion.
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