Exports up by 50.45% during August 1-7

India’s exports of goods increased by 50.45% during the first 7 days of August 2021, owing to robust growth in shipments of engineering goods, petroleum products and gems and jewellery. Imports also witnessed a growth of 70%, reaching US$ 10.45 billion. The trade deficit stood at US$ 3 billion.

Exports of engineering goods rose by 63% reaching US$ 834 million during 1-7 August. Exports of gems & jewellery was up by 121% reaching US$ 418 million and for petroleum products 145% reaching US$ 522 million.

Exports of iron ore, oil meals and oil seeds witnessed negative growth. In case of imports, oil witnessed 141% growth during August 1-7 and electronic goods witnessed 131%. For gold, imports increased by 12.48% reaching US$ 100 million. Destination wise, exports to US, UAE, and Saudi Arab increased by 48.4%, 70% and 180% respectively.