Exports up 45% during July 1-21 period: Commerce ministry data

The country’s exports have risen by 45.13% to $22.48 billion in the period from July 1-21, on the back of healthy growth in gems, jewellery, petroleum and engineering, according to the provisional commerce ministry data.

During the said period, imports had risen by 64.82% to $31.77 billion, which had left a trade deficit of $9.29 billion. Imports of petroleum, crude and products increased by about 77.5% to $1.16 billion during the July 1-21 period.

Exports of gems and jewellery, petroleum and engineering stood at $424.5 million, $923.33 million and $551.4 million, respectively, during the July 1-21 period, the ministry data showed.

Also, exports to the US have increased by 51% to $493.24 million, similarly, exports to UAE increased by 127% to $373.36 million, while exports to Brazil climbed by 212% to $144.5 million during the July 1-21 period.

Recording positive growth for the seventh consecutive month, exports rose by 48.34% to $32.5 billion in June on the back of healthy growth in shipments of petroleum products, gems and jewellery, even as the trade deficit aggregated at $9.37 billion during the month. The final figures for the month of July would be released next month by the ministry.