India’s trade deficit stands at $20.67 billion for July 2023

New Delhi: India’s trade deficit for July 2023 stood at $20.67 billion with imports worth $52.92 billion and exports worth $32.25 billion.

Trade deficit for the corresponding period of last year stood at $25.43 billion.

In June 2023, trade deficit had slid to $20.13 billion, compared to $22.1 billion in May 2023.Thus, the July trade deficit is slightly higher than June numbers, according to figures released by the Commerce Ministry on Monday.

Meanwhile, merchandise trade exports fell to a nine-month low of $32.25 billion in July, while the April-July growth for goods exports fell 14.50 per cent year-on-year.

Imports for the same period fell by 13.79 per cent.

India’s merchandise imports stood at $52.92 billion in July 2023, down from $53.10 billion in June 2023. In June 2022, the merchandise imports figures stood higher at $63.77 billion.

–IANS