Imports shot up by 43.61 per cent to $66.27 billion in the month in contrast to July 2021, the info confirmed.
The trade deficit was $10.63 billion in July 2021.
Preliminary knowledge launched earlier this month had proven a 0.76 per cent contraction in exports at $35.24 billion for July in opposition to $35.51 billion in July 2021. The trade deficit was pegged at a report $31 billion in the month fuelled by over 70 per cent rise in crude oil imports.
(Only the headline and movie of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)
Business Standard has all the time strived exhausting to present up-to-date data and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how to enhance our providing have solely made our resolve and dedication to these beliefs stronger. Even throughout these tough occasions arising out of Covid-19, we proceed to stay dedicated to holding you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.
As we battle the financial affect of the pandemic, we want your help much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We consider in free, honest and credible journalism. Your help via extra subscriptions might help us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.