Summary:

India's goods exports from April to July 2024 totaled US$144.12 billion, up 4.15% from US$138.39 billion the previous year. Non-petroleum and non-gems and jewellery exports increased by 5.69% in July 2024, driven by gains in electronic products, engineering items, medications and pharmaceuticals, and meat, dairy, and poultry. Exports of electronic products rose 37.31% to US$2.81 billion, while meat, dairy, and poultry exports grew by 56.18% to US$0.46 billion. Total exports in July 2024 were US$62.42 billion, up 2.81% from the previous year, while imports increased by 7.14% to US$72.03 billion.

From April to July 2024, India's total exports amounted to US$261.47 billion, up 6.65%, while imports reached US$292.64 billion, up 7.30%. The merchandise trade deficit widened to US$85.58 billion from US$75.15 billion the previous year. In the services sector, July exports were estimated at US$28.43 billion and imports at US$14.55 billion, resulting in a US$54.40 billion trade surplus. Significant export growth was observed in tobacco, oil meals, and textiles, while imports of project goods and precious stones decreased. Key export growth destinations included the Netherlands and the United States, while the UAE, China, and Russia were major import sources.

Source: IBEF 

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