India's exports reache an estimated USD 80.14 billion
NEW DELHI: India's exports, which encompass both merchandise and services, reached an estimated USD 80.14 billion in July, reflecting a significant year-on-year growth of 13.3%. This growth was primarily driven by merchandise shipments that saw an impressive increase of 19.6% amounting to 44.24 billion US dollars compared to the previous year, a report confirms.
Key contributors to this surge in merchandise exports included petroleum products, electronic goods, engineering goods as well as organic and inorganic chemicals, cotton yarn and handloom products. However, the country experienced a widening merchandise trade deficit expanding by 31.5% year-on-year to 15 billion US dollars in the same month.
Over the cumulative period from April to July in the current financial year, merchandise exports totaled approximately 173.78 billion US dollars, marking a 17% increase compared to the same period last year.