ENA Sectors 2022-08-03 12:15:35 <p><strong>New Delhi, Aug 3 (KNN)</strong> India has achieved merchandise export of USD 35.24 billion in July 2022, almost at similar levels of USD 35.51 billion in July 2021.</p> <p>The gap between exports and imports recorded at USD 31.02 billion has tripled from the USD 10.63 billion reported in July last year.</p> <p><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>Commenting on the data, FIEO President, Dr A Sakthivel said, Exports of July indicates a strong factor of resilience in the exports sector despite measures to control inflation and the continued disruptions of supply chains due to Covid and Russia-Ukraine conflict.</p> <p>Signs of a likely slowdown in exports can been seen as global inventories are pretty high and the merchandise exports is facing the triple blow as there is again a shift in consumption from goods to the services with opening up of economies after the pandemic, he added.</p> <p>Inflation affecting all economies reducing the purchasing power and many economies entering the recession while some advanced ones already in recession are also impacting Indias merchandise exports, said FIEO Chief.</p> <p>Value of non-petroleum exports in July 2022 was 29.82 USD billion, registering a positive growth of only 0.48 per cent over non-petroleum exports of USD29.67 billion in July 2021.</p> <p>The cumulative value of non-petroleum exports in April -July 2022-23 was USD 123.90 billion, an increase of 10.3 per cent over USD 112.32 billion in April -July 2021-22.</p> <p>Value of non-petroleum and non-gems and jewellery exports in July 2022 was USD 26.54 billion, registering a positive growth of 1.24 per cent over non-petroleum and non-gems and jewellery exports of USD 26.21 billion in July 2021.</p> <p>The cumulative value of non-petroleum and non-gems and jewellery exports in April -July 2022-23 was USD 110.39 billion, an increase of 10.73 per cent over cumulative value of non-petroleum and non-gems and jewellery exports of USD 99.69 billion in April -July 2021-22.</p> <p>Indias merchandise import in July 2022 was USD 66.26 billion, an increase of 43.59 per cent over USD 46.15 billion in July 2021. </p> <p>Imports in April -July 2022-23 was USD 256.43 billion with an increase of 48.12 per cent over USD 173.12 billion in April -July 2021-22. <em><strong>(KNN Bureau)</strong></em></p> 30089 https://knnindia.co.in/news/newsdetails/sectors/trade-deficit-grows-threefold-in-july-at-3102-bn-compared-to-last-year 2022-08-03 12:15:35 knnindia.co.in