India’s July exports down 14.8 per cent at $22.4 billion

India's exports declined by 14.8 per cent to $22.4 billion in July 2012, compared with exports worth $26.3 billion in July 2011, amidst continuing slowdown across much of the global economy.

India's imports, however, declined at a slower pace of 8.44 per cent year-on-year to $37.9 billion in July 2012, compared with $41.1 billion in July 2011, provisional data released by the commerce ministry showed.

Trade deficit for July 2012 stood at $15.5 billion, compared with $14.8 billion in July 2011.

Cumulative exports for the April-July 2012 period were down $5.2 billion (or 5.06 per cent) at $97.6 billion against exports worth $102.8 billion in April-July 2011.

Cumulative imports for the April-July 2012 period were down $10.6 billion (or 6.47 per cent) at $153.2 billion, compared with imports of $163.8 billion in April-July 2011.

Cumulative trade deficit for the April-July 2012 period stood at $55.5 billion, compared with $61.0 billion in April-July 2011.