Live
- Dairy Science students visited the Milk cooling plant
- Moody feels Pant ahead in keepers’ race for T20 WC squad; Srikkanth picks Rahul over Samson as reserve keeper
- Thanking voters for extending 'unparalleled support' to NDA, PM Modi says second phase 'too good'
- Natural Relief for Menstrual Cramps: Beetroot Juice Recipe
- Asha Worker died in a road accident
- Akshaya Tritiya 2024 Auspicious Hindu Festival on May 10th
- Celebrating World Veterinary Day 2024: Safeguarding Your Pet’s Vision with Expert Tips
- NSG joins CBI in searching residence of Sheikh Shahjahan’s relative
- Maharashtra: Peeved state unit Congress Working President quits 2024 LS polls campaign
- Archery World Cup: Deepika storms into individual semis; Compound Mixed Team in final
Merchandise trade deficit for July at $31 billion
India’s merchandise trade deficit, excess of imports over exports, touched $31.02 billion in July up from $26.18 billion in June 2022.
Chennai: India's merchandise trade deficit, excess of imports over exports, touched $31.02 billion in July up from $26.18 billion in June 2022.
According to BVR Subrahmanyam, Secretary, Department of Commerce, merchandise imports in July were at about $66.26 billion, whereas exports were at about $35.24 billion resulting in a deficit of $31.02 billion.
High commodity prices, depreciating rupee against the dollar are said to be causes for the merchandise trade deficit.
In June this year, India's merchandise exports were at $40.13 billion and imports were at $66.31 ending in a deficit figure of $26.18 billion.
Within the overall figures, sectors like chemicals, electronic goods logged export growth, while engineering, gems and jewellery, petroleum products, pharmaceuticals and others contracted.
Subrahmanyam said restrictions on exports of wheat, iron, steel held back exports revenue. Shipments to Russia and Sri Lanka are expected to boost revenue with the Reserve Bank of India (RBI) permitting settlement of trades in rupee.
