India's exports dip 1.2% to $33.98 bn in July, imports up by 7.45%

India's merchandise exports in July dipped 1.2 per cent to $33.98 billion from $34.39 billion in the year-ago month, according to government data released on Wednesday.

Imports increased by about 7.45 per cent to $57.48 billion in July against $53.49 billion a year ago.

The trade deficit, or the gap between imports and exports, during the month under review stood at $23.5 billion.

Briefing media on data, Commerce Secretary Sunil Barthwal said that going by the current trend, the country's total exports of goods and services will cross last year's figure.

India's merchandise exports rose by 2.56 per cent to $35.2 billion in June, even as the trade deficit widened to $20.98 billion.

Exports during April-July this fiscal increased 4.15 per cent to $144.12 billion, and imports grew 7.57 per cent to $229.7 billion.