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The commerce ministry in its latest data has said that India’s merchandise exports rose 2.14 per cent to $36.27 billion in July 2022 as compared to $35.51 billion in July 2021. Merchandise imports in July 2022 were $66.27 Billion, which is an increase of 43.61 per cent over imports of $46.15 Billion in July 2021. The trade deficit widened to $30 billion in July 2022 from $10.63 billion from the year-ago period mainly due to over 70 per cent rise in crude oil imports.

As per the data, merchandise exports for the period April-July 2022 were $157.44 Billion as against $131.06 Billion during the period April-July 2021, registering a positive growth of 20.13 per cent. Merchandise imports for the period April-July 2022 were $256.43 Billion as against $173.12 Billion during the period April-July 2021, registering a positive growth of 48.12 per cent. The merchandise trade deficit for April-July 2022 was estimated at $98.99 Billion as against $42.07 Billion in April-July 2021, which is an increase of 135.31 per cent.

Data further showed that non-petroleum and non-gems & jewellery exports in July 2022 were $26.62 Billion, registering a positive growth of 1.55 per cent over non-petroleum and non-gems & jewellery exports of $26.21 Billion in July 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $38.45 Billion in July 2022 with a positive growth of 42.91 per cent over Non-petroleum, non-gems & jewellery imports of $26.90 Billion in July 2021.

It also stated that non-petroleum and non-gems & jewellery exports during April-July 2022 was $110.47 Billion, an increase of 10.81 per cent over non-petroleum and non-gems & jewellery exports of $99.69 Billion in April-July 2021. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $147.56 Billion in April-July 2022, recording a positive growth of 36.94 per cent, as compared to Non-petroleum, non-gems & jewellery imports of $107.75 Billion in April-July 2021.