India: Trade deficit widens in July
August 17, 2017
Recently released data related to India’s external sector showed that the trade deficit totaled USD 11.5 billion in July, which was a greater shortfall than the USD 7.8 billion gap recorded in July 2016 (June 2017: USD 12.9 billion deficit).
The deterioration in trade data came on the back of moderate growth in exports, while imports grew robustly. Exports grew 3.9% annually in July, below the previous month’s 4.4% increase and totaling USD 22.5 billion. Imports expanded a notable 15.3% over the same month last year (June: +18.9% year-on-year), and totaled USD 34.0 billion.
The rolling 12-month trade deficit widened from USD 127 billion in June to USD 130 billion in July.