Indian exports hit a record 35. 2-billion in july 2021 higher than 2020
After facing the second wave of Corona epidemic, the Indian economy is rapidly coming back on track. Record exports so far in July 2021. Imports also increased sharply during this period.
New Delhi. The second wave of Corona epidemic badly affected the economy of the country. In such a situation, it is a matter of great relief for Indian exports to reach a record $35.2 billion in July. This is the record export so far in terms of monthly exports. If you compare it with July 2020, then there has been an increase of 47.91 percent in July 2021 exports. Exports were $23.78 billion in July 2020 and $26.23 billion in July 2019.
Merchandise imports also increased to $ 46.4 billion in July 2021, according to data released by the Union Commerce Ministry. That is, the trade deficit increased to $ 11.2 billion in July.
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Exports exceed $ 30 billion for the fifth consecutive month
As per the latest data, five commodity products registered growth during July 2021. These commodity products include petroleum products (215.68 per cent), gems and jewelery (130.44 per cent), other cereals (70.25 per cent), man-made yarns and fabrics (58.67 per cent) and cotton yarn and fabrics (48.02 per cent). In July, exports topped $30 billion for the fifth consecutive month. Whereas earlier in March, $34.5 billion was exported.
Import of petroleum and crude oil products is highest
Exports of oilseeds, rice, meat, dairy and poultry products declined in July 2021. In July, imports of petroleum, crude oil and products rose 97 percent to $6.35 billion, according to data released by the commerce ministry. Gold imports rose 135.5 percent to $2.42 billion. Similarly, imports of pearls, precious and semi-precious stones stood at $1.68 billion. Imports of transport equipment, project goods and silver declined during this period.
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