India’s exports rose by 2.14 per cent to $36.27 billion in July while the trade deficit almost tripled to $30 billion during the month, according to official data released on Friday. Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the data showed.
The trade deficit was $10.63 billion in July 2021. Preliminary data released earlier this month had shown a 0.76 per cent contraction in exports at USD 35.24 billion for July against USD 35.51 billion in July 2021. The trade deficit was pegged at a record $31 billion in the month fuelled by over 70 per cent rise in crude oil imports.