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With Exports on the Rise, Trade Deficit Widens to 43-Month High
July 21, 2018
According to the data by the commerce ministry, India’s exports increased by 17.5% to $27.7 billion in June although the imports also increased by 21.3% to $44.3 billion, thus causing the widest trade deficit in the past 3.5 years. It said that the crude oil imports alone increased by 56.6% to $12.7 billion in the month.
Chemicals, petroleum products, jewelry, pharmaceuticals, and engineering goods are some of the sectors that saw the high exports in June.
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