Export Import July 2022: Exports of $ 36.27 billion in July, country's trade deficit at record level

India's exports grew by 2.14 per cent to $36.27 billion in July, while the trade deficit nearly tripled to $30 billion, from $10.63 billion in July 2021, due to a more than 70 percent rise in crude imports.  At the same time, the country's imports increased by 43.61 percent to $ 66.27 billion in July compared to July 2021.  Data released earlier this month showed a 0.76 per cent decline in exports for July, showing a shortfall of US$35.24 billion.

Import and export during four months

Let us tell you that during April to July 2022-23, exports have increased by 20.13 percent to $ 157.44 billion.  Imports grew by 48.12 per cent to $256.43 billion during the four months.  At the same time, the trade deficit during April-July 2021-22 stood at $ 98.99 billion as against $ 42 billion.  Imports of crude oil and petroleum products stood at $21.13 billion during July this year, an increase of 70.4 percent as compared to $12.4 billion in July 2021.

Increased import of these goods

Imports of coal, coke and briquettes more than doubled to $5.2 billion in July this year, while vegetable oil imports grew 47.18 percent to $2 billion.  However, inbound shipments of gold declined by 43.6 per cent to US$ 2.37 billion as compared to 4.2 billion in July 2021.

In which sector exports increased?

Sectors that registered positive growth on the export front in July 2022 include petroleum products, leather, electronic goods and coffee exports.  On the other hand, engineering products, metals and jewellery, plastics, cashew and carpet sectors saw a decline.

As per the data, the estimated value of exports of goods for July 2022 is USD 24.91 billion, showing a positive growth of 28.69 per cent year-on-year.  Imports are estimated at US$ 15.95 billion, an increase of 40.02 per cent.