India’s trade deficit grows to $23.5b in July

India’s merchandise trade deficit in merchandise expanded unexpectedly to $23.5 billion in July, exceeding economists’ expectations and June’s figure of $20.98 billion, according to Reuters calculations

Merchandise exports in July amounted to $33.98 billion, while imports climbed to $57.48 billion. In comparison, June’s exports totaled $35.20 billion, and imports stood at $56.18 billion, according to data released by the Commerce Ministry on Wednesday.

Services exports in July reached $28.43 billion, with imports at $14.55 billion. These figures compare to $28.82 billion in services exports and $15.02 billion in imports during June.

Attribution: Reuters

Subediting: Y.Yasser