India’s exports of handicrafts (excluding hand-made carpet) in July this year were worth $121.23 million compared to $189.04 million in the same month last year—a year-on-year (YoY) decline of 35.87 per cent. Exports of cotton yarn, fabrics, made-ups, handloom products, etc. were worth $944.92 million in the month over $1,315.42 million in July 2021—a YoY fall of 28.17 per cent.

Exports of man-made yarn, fabrics, made-ups, etc. were worth $437.59 million in July this year compared to $486.91 million in the same month last year—a YoY fall of 10.13 per cent.

Exports of readymade garments of all textiles were worth $1,380.91 million in July this year compared to $1,389.22 million in the same month last year—a YoY fall of 0.60 per cent.

Imports of cotton (raw and waste) were worth $193.87 million in July this year compared to $57.68 million in the same month last year, registering a YoY increase of 236.11 per cent, whereas imports of textile yarn, fabric and made-up articles were worth $268.82 million in the month compared to $142.36 million in the same month in 2021—an increase of 88.83 per cent.

India’s overall exports—merchandise and services combined—in July this year are estimated to be worth $61.18 billion, exhibiting a growth of 11.51 per cent over the same period last year. The figure is projected at $253.84 billion between April and July this year—a year-on-year (YoY) growth of 22.85 per cent, the ministry of commerce and industry said in a press release.

Overall imports in July are estimated to be worth $82.22 billion, reflecting a YoY growth of 42.90 per cent. The figure for April-July this year is estimated at $317.40 billion—a YoY growth of 47.68 per cent.

Merchandise exports in July were worth $36.27 billion over $35.51 billion in July 2021—a YoY growth of 2.14 per cent, while imports of the same in the month were worth $66.27 billion, an increase of 43.61 per cent over imports worth $46.15 billion in July last year.

The merchandise trade deficit in July this year was estimated at $30 billion compared to $10.63 billion in July last year—an increase of 182.10 per cent.

Merchandise exports and imports during April-July this year were worth $157.44 billion and 256.43 billion compared to $131.06 billion (YoY growth of 20.13 per cent) and $173.12 billion (YoY growth of 48.12 per cent) respectively during the same period last year.

The merchandise trade deficit for April-July 2022 was estimated at $98.99 billion compared to $42.07 billion in the same duration last year—a YoY rise of 135.31 per cent.

Fibre2Fashion News Desk (DS)

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