Despite Pandemic Headwinds, India's July Merchandise Exports Surges Strongly To $35.17 Billion, Up Nearly 50%

India's merchandise exports shot up to $35.17 billion in July representing an increase of 47.91% over the same period of 2020-21 ($23.78 billion) and up by 34.06% over same period of 2019-20 ($26.23 billion).

Merchandise exports had grown by 48.3% to $32.5 billion in June and were nearly 30% higher than June 2019.

Non-oil exports rose sharply by 34.39% over same period of 2020-21 and up by 30.01% over same period of 2019-20.

Non-petroleum exports stood at $29.57 billion in July representing a 34.39% growth over same period of 2020-21 and 30.01% growth over same period of 2019-20.

Exports of engineering good in July 2021 grew by over 42.14% over the same period last year while export of gems and jewellery increased by over 130%

The import in July stood at $46.40 billion, an increase of 59.38% over the same period of 2020-21 ($29.11 billion) and up by 14.75% over same period of 2019-20 ($40.43 billion). Imports excluding Petroleum has increased in this period by 48.46% over same period of 2020-21 and up by 9.19% over same period of 2019-20.

In July, U.S, United Arab Emirates and Belgium were India's top three exporting nations.

Also Read: A Resilient International Trade Year Despite The Pandemic Headwinds