Trade deficit widens to $20.67 bn in July compared to $20.13 bn in June

India’s trade deficit, which shows the difference between imports and exports, rose to $20.67 billion in July as compared to $20.13 billion in June. On a year-on-year basis, the deficit was down as compared to $25.7 billion in July last year. 

According to the data from commerce ministry, the imports were down 17 per cent in July to $52.92 billion from $63.8 billion last year. The exports fell 16 per cent to $32.25 billion from $38.34 billion in July 2022. 

The merchandise imports were down from $53.10 billion in June. In June 2022, the number stood at $63.77 billion.

Merchandise exports in July stood at $32.25 billion, down from $32.87 billion in June and $38.34 in June 2022.

During April-July, the exports dipped by 14.5 per cent to $136.22 billion. Imports during the period also declined by 13.79 per cent to $213.2 billion.

According to news agency PTI, commerce secretary Sunil Barthawal said that the global headwinds are still there. There is decline in exports and imports of several countries.