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India trade deficit widens in July

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Staff Writer | August 21, 2017
Recently released data related to India’s external sector showed that the trade deficit totaled $11.5 billion in July, which was a greater shortfall than the $7.8 billion gap recorded in July 2016 (June 2017: $12.9 billion deficit).
India central bank
Asia   Exports grew 3.9% annually in India
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 $22.5 billion. Imports expanded a notable 15.3% over the same month last year (June: +18.9% year-on-year), and totaled $34.0 billion.

The rolling 12-month trade deficit widened from $127 billion in June to $130 billion in July.

FocusEconomics Consensus Forecast panelists expect exports to grow 7.6% in FY 2017 and 8.0% in FY 2018.