Exports dive

India’s exports in July contracted 14.8%, steepest fall in three years, to $22.4 billion, mainly due to the demand slowdown in the US and Europe. Reflecting slowdown in the economy, imports too declined by 7.61% to $37.9 billion in July, leaving a trade deficit of $15.4 billion.
During the April-July period of the current fiscal, the country’s shipments have shrunk by 5.06% to $97.6 billion. Imports during the period dipped by 6.47% to $153.2 billion.

No comments: