Goods exports decline for 1st time in 4 months

Quick Summary:

India's trade deficit grew to $23.5 billion in July as exports declined 1.4% to $34 billion, mainly due to a drop in petrol, diesel, and gems exports.Imports increased 7.5% to $57.5 billion, with crude oil imports rising 17% to $13.9 billion.

Commerce Secretary Sunil Barthwal cited domestic oil demand and global crude prices as factors.

It is important to see how much value is being added here," he said, adding that imports were rising also because India was becoming part of the global value chain.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaBangladeshChinaOman

Topics: Exports decline India's trade Crude oil Imports rise Trade deficit

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 07:02:05 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 610 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22082004

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

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