India's merchandise exports surged 49.85 per cent to USD 35.43 billion in July on account of healthy growth in petroleum, engineering, and gems and jewellery segments, at the same time as the trade deficit widened to USD 10.97 billion during the month, official data showed on Friday. Exports during July 2020 stood at USD23.64 billion. The data by the Ministry of Commerce and Industry also indicated that in comparison to July 2019, last month's exports rose by 35.05 per cent.
"Exports in July 2021 were USD35.43 billion, as compared to USD23.64 billion in July 2020, exhibiting a positive growth of 49.85 per cent. As compared to July 2019, exports in July 2021 exhibited a positive growth of 35.05 per cent in dollar terms." "Non-petroleum and Non-Gems and Jewellery exports in July 2021 were USD26.12 billion, as compared to USD20.37 billion in July 2020, registering a positive growth of 28.18 per cent.
As compared to July 2019, Non-petroleum and Non-Gems and Jewellery exports in July 2021 registered a positive growth of 32.26 per cent." Similarly, India's merchandise imports in July 2021 increased, up by 62.99 per cent, on a year-on-year basis, to USD46.40 billion.