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First in 17 months, exports fall

Imports, however, surged 43.6 per cent in July to $66.3 billion, driving up the trade deficit to a fresh monthly peak of $31 billion.

Sequentially, exports in July fell 12 per cent from June. (Express Photo by Narendra Vaskar)

Merchandise exports last month dropped 0.8 per cent from a year before, albeit on an unfavourable base, to $35.2 billion — the first monthly decline since February 2021 and compared with a 23.5 per cent year-on-year jump in June — showed preliminary data released by the Commerce Ministry on Tuesday.

Imports, however, surged 43.6 per cent in July to $66.3 billion, driving up the trade deficit to a fresh monthly peak of $31 billion. Sequentially, exports in July fell 12 per cent from June. FE

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First published on: 03-08-2022 at 12:14:16 pm
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