Exports up 14.32 per cent in July to USD 25.77 billion

New Delhi: India's exports rose by 14.32 per cent to USD 25.77 billion in July compared to USD 22.54 billion in the year-ago month mainly on account of better performance of gems and jewellery sector as well as petroleum products.

The trade data released by the commerce ministry on Tuesday also revealed that merchandise imports during July were valued at USD 43.79 billion, a growth of 28.81 per cent compared to USD 33.99 billion in the year ago period.

The sharp surge in imports led to worsening of trade deficit to USD 18.02 billion in the reporting month as against a deficit of USD 11.45 billion during July 2017.

Gold imports surged by 40.94 per cent in July to USD 2.96 billion compared to USD 2.102 billion in July 2017.

As regards exports, the outward shipments of petroleum products surged from USD 3 billion in July last year to USD 3.9 billion, showing a growth of about 30 per cent.

Export of gems and jewellery was up 24.62 per cent to USD 3.18 billion.