Exports grew by 11.64 per cent to $25.83 billion in July, snapping two consecutive months of decline, on the back of demand from Africa, Asean and Far East regions.
Imports also declined by 6.2 per cent to $38.1 billion during the month, leaving a trade deficit of $12.2 billion. Trade deficit was at $17.47 billion in July last year.
Gold and silver imports stood at $2.9 billion in July, down from $4.4 billion in
the same period last year.
Commerce Secretary S R Rao said exports to regions like Africa, ASEAN and Far East are helping the country's shipments to grow.
During April-July this fiscal, exports grew by 1.72 per cent to $98.2 billion. Imports too increased by 2.82 per cent to $160.7 billion during the period.
Trade deficit during the first four months of this fiscal stood at $62.4 billion.
Oil imports in July declined by 8 per cent to $12.7 billion and during April-July period it grew by 2.65 per cent to $54.5 billion.
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Exports grew by 11.64 per cent to $25.83 billion in July, snapping two consecutive months of decline, on the back of demand from Africa, Asean and Far East regions.