IGI Logo

The commerce ministry in its latest data has showed that India's merchandise export dipped 1.2 per cent to $33.98 billion in July 2024 from $34.39 billion in the year-ago month. Imports increased by about 7.45 per cent to $57.48 billion in July 2024 against $53.49 billion a year ago due to a jump in the inbound shipments of crude oil, silver and electronic goods. The trade deficit, or the gap between imports and exports, during the month under review stood at $23.5 billion.    

According to the data, merchandise exports during April-July 2024 were $144.12 billion as compared to $138.39 billion during April-July 2023. Merchandise imports during April-July 2024 were $229.70 billion compared to $213.53 billion during April-July 2023. Merchandise trade deficit during April-July 2024 was $85.58 billion compared to $75.15 billion during April-July 2023.

It further stated that non-petroleum and non-gems & jewellery exports in July 2024 were $26.92 billion compared to $25.47 billion in July 2023. Non-petroleum and non-gems & jewellery exports in April-July 2024 were $109.09 billion, compared to $102.81 billion in April-July 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in July 2024 were $38.98 billion compared to $36.16 billion in July 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-July 2024 were $144.32 billion, compared to $138.25 billion in April-July 2023.