Exports up 45% to $22.48 Billion so Far in July

India’s good exports rose 45.13% year-on-year to $22.48 billion in the first three weeks of July, led by petroleum, gems and Jewellery, engineering goods.

Imports in the same period posted sharper 64.82% increase to $31.77 billion, the commerce and industry ministry said in a statement.

Excluding petroleum, oil and lubricants (POL), export of all other goods increased by 34.11% in the July 1-21 period.

Exports of gems and Jewellery, petroleum and engineering goods during July 1-21 were $424.5 million, $923.33 million and $551.4 million, respectively.

“The export momentum remains strong,” said an official

As per the data, export to the United States, UAE and Brazil increased 51% to $493.24 million, 127% to $373.36 million and 212% to $144.5 million, respectively.

The top decrease in outbound shipments was seen in Oman, Indonesia and Malaysia.

Imports, excluding petroleum, increased 53.79% compared to the same period last year. An increase in imports, was seen from Saudi Arabia, UAE and Iraq, while those from Indonesia, Switzerland and Kazakhstan declined.  S-ET

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