Exports up 13.2% in July

Exports grew by 13.2 per cent to USD 16.24 billion in July compared to the same period last fiscal, posting growth for the ninth month in a row. Imports too jumped by 34.3 per cent to USD 29.17 billion in July compared to the same month last fiscal, according to the official data released on Wednesday. During April-July this fiscal, exports posted a growth rate of 30 per cent to USD 68.62 billion on year-on-year basis. Imports during the April-July period grew by 33.3 per cent to USD 112.2 billion. Oil imports in July grew by 4.4 per cent to USD 7.6 billion, while non-oil imports jumped by 49.6 per cent to USD 21.5 billion. The country's trade deficit widened to USD 12.93 billion in July compared to the year-ago period.