India’s Trade Deficit Widens in July on Higher Import Bill

From bnnbloomberg.ca

India’s trade deficit widened in July as strong domestic demand drove the nation’s import bill. The gap between exports and imports stood at $23.5 billion in July, Trade Ministry data showed Wednesday. The reading is higher than the $21.5 billion deficit forecast by economists in a Bloomberg survey and compares with a reading of $20.98 billion in June. The imports grew 7.5% from a year earlier to $57.48 billion in July, while exports fell 1.5% to $33.98 billion during the month. The inbound shipments were $56.18 billion in June, while outbound shipments stood at $35.20 billion. India is the fastest-growing major ... (full story)