Exports up 45% on-yr in first 3 weeks of July: Govt

Led by petroleum, gems & jewelry, engineering items, India’s items exports in the first three weeks of July rose 45.13% year-on-year to $22.48 billion. Imports in the first three weeks of July posted a sharper improve of 64.82% to $31.77 billion, commerce and industry ministry stated in an announcement.

Excluding petroleum, oil and lubricants (POL), the export of all different items elevated by 34.11% in the July 1-21 interval.

Exports of gems and jewelry, petroleum and engineering throughout July 1-21 have been $424.5 million, $923.33 million and $551. 4 million, respectively,

“The exports momentum remains strong,” stated an official.

As per the information, exports to the US, UAE and Brazil elevated 51% to $493.24 million, 127% to $373.36 million and 212% to $144.5 million, respectively.

The prime lower in outbound shipments was seen in Oman, Indonesia and Malaysia.

Imports, excluding petroleum, elevated 53.79% in the interval, in comparison with the identical interval final yr. An improve in imports was witnessed from Saudi Arabia, UAE and Iraq whereas these from Indonesia, Switzerland and Kazakhstan declined.

Compared to 2019-20, items exports in the first three weeks of July have been 25.42% and excluding POL, they have been up 24.81%.

India’s items exports in June grew 48.34% on-year to $32.50 billion. In the April-June 2021 interval, the cumulative worth of exports was $95.39 billion, the very best ever merchandise exports in 1 / 4, posting a rise of 85.88%.

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