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July exports rise 47.9% on uptick in global orders

However, exports of oilseeds, rice and meat, dairy and poultry products recorded negative growth in the month under review

Representative Image (Creative Commons)

The country’s merchandise exports rose by 47.9% as compared to the same period last year. According to the data released by the Commerce and Industry Ministry on August 2, outbound trade rose to $35.17 billion in July. Imports during the month also rose by 59.38% to $46.40 billion.

Official statistics show exports of processed petroleum saw the biggest growth in July as exports more than doubled.

With a 215% growth, petroleum exports helped earn $3.8 billion more in July. This was followed by $2.8 billion more worth of engineering goods which rose 42% and $1.9 billion more worth of gems and jewellery which rose by 130%.

However, exports of oilseeds, rice and meat, dairy and poultry products recorded negative growth in the month under review.

Imports of petroleum, crude, and products soared by 97% to $6.35 billion while imports of gold zoomed 135.5% to $2.42 billion.

However, imports of transport equipment, project goods and silver posted negative growth in the month.

Exports during April-July 2021-22 rose by 73.86% YoY to $130.56 billion as against $75.10 billion in the same period last year.

Published: August 2, 2021, 21:00 IST

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