Exports rise 3.94% to $22.54 bn in July; trade deficit widens to $11.45 bn

The exports rose for 11th straight month

Export growth slowed in July to 3.94 per cent even as the country witnessed 11 straight months of rise in outbound trade.

India exported $22.54 billion worth of goods in July against $21.68 billion in the same month last year, according to data issued by the commerce ministry on Monday.

Growth has continuously declined since March, when it hit a high of 27 per cent, the steepest in a little over five years. In June, it was 4.39 per cent, down from 8 per cent in May.

As a result, key export sectors have seen contraction or