According to data released by the Ministry of Commerce and Industry, engineering goods, petroleum products, gems and jewellery, organic and inorganic chemicals and drugs and pharmaceuticals showed a high export growth during the month under review.
"Cumulative value of exports for the period April-July 2018-19 was $108.24 billion as against $94.76 billion registering a positive growth of 14.23 per cent in dollar terms," the ministry said in its review statement.
"Non-petroleum and non-gems and jewellery exports during July 2018 were valued at $18.68 billion as compared to $16.98 billion during July 2017 exhibiting a positive growth of 9.98 per cent."
As per the data, the country's imports during the month under review rose by 28.81 per cent to $43.79 billion in July 2018 from $33.99 billion in the like period of 2017.
Segment-wise, oil imports during July 2018 jumped by 57.41 per cent to $12.35 billion from $7.84 billion imported during July 2017.
The ministry pointed out that global Brent prices ($/bbl) have increased by 53.16 per cent in July 2018 vis-?-vis July 2017.
"Non-oil and non-gold imports in July 2018 valued at $28.47 billion has recorded a positive growth of 18.42 per cent as compared to non-oil and non-gold import in July 2017," the statement said
Additionally, gold imports in July edged higher by 40.94 per cent to $2.10 billion.
Consequently, India's merchandise trade deficit widened to $18.02 billion during last month as against $11.45 billion in the corresponding period the previous year.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
