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Trade Deficit: India's trade deficit decreased in July, imports also decreased by $ 10 billion
Import Export Data July 2023: India's trade deficit has come down to $20.67 billion in July. It was $25.43 billion in the same period last year. There has also been a decrease in imports and it has decreased by more than $ 10 billion to $ 52.92 billion as compared to the previous year. However, there has been a decrease in exports due to fewer orders received by exporters.
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“Trade Deficit: India's trade deficit decreased in July, imports also decreased by $ 10 billion”
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sangritoday.com
14 Aug 2023
India's exports have seen a decrease in July and it has come down to $ 32.25 billion. Exports in July last year stood at $38.34 billion. The major reason behind the decline in India's exports is the slowing down of the global economy, due to which exporters are getting fewer orders from Europe and the US than last year.
The country's imports decreased in July 2023 along with exports. It has come down to $ 52.92 billion, which was earlier $ 63.77 billion.
India's trade deficit narrowed to $20.67 billion in July. It was $25.43 billion in the same period last year. India's trade deficit stood at $20.13 billion in June this year and $22.10 billion in May.
