India’s merchandise exports grew 2.25 per cent to $26.33 billion in July from the same month in 2018, due to a boost in shipments of products like drugs and pharmaceuticals, organic and inorganic chemicals, RMG (ready-made garments) of all textiles, and iron ore, according to data released by the Commerce Ministry on Wednesday. In July 2018, the country had exported goods worth $25.75 billion.
The country’s goods trade deficit narrowed nearly 28 per cent to $13.43 billion from $18.63 billion during the same period last year. Merchandise imports had also dropped 10.43 per cent to $39.76 billion last month from $44.39 billion in July 2018. Exports of iron ore saw the highest increase, growing nearly 298 per cent to $268.94 million from $67.59 million during the same period last year. Exports of electronic goods and drugs and pharmaceuticals, now valued over $1.72 billion, grew 51.39 per cent and 21.74 per cent respectively.
Organic and inorganic chemical exports, valued around $1.89 billion now, grew 13.45 per cent, while RMG of all textiles grew around 7.06 per cent to $1.36 billion. Shipments of ceramic products and glassware as well as spices grew 37.71 per cent and 59.81 per cent respectively.
However, exports of engineering goods, now worth over $6.15 billion, dropped 1.69 per cent, while petroleum product shipments dropped as much as five per cent to $3.65 billion from $3.84 billion in July 2018.
