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TaxTMI 
India’s total exports estimated to grow at 2.81% in July 2024.The cumulative overall exports during April-July 2024 estimated to grow at 6.65%.
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....ndia’s total exports estimated to grow at 2.81% in July 2024.The cumulative overall exports during April-July 2024 estimated to grow at 6.65%. <br>News and Press Release<br>Dated:- 14-8-2024<br><BR>The cumulative value of merchandise exports during April-July 2024 was USD 144.12 Billion as compared to USD 138.39 Billion during April-July 2023, registering a positive growth of 4.15%. Non-petroleum & Non-Gems & Jewellery exports registered an increase of5.69% from USD 25.47 Billion in July 2023 to USD 26.92 Billion in July 2024. Major drivers of merchandise exports growth in July 2024 include Electronic Goods, Engineering Goods, Drugs & Pharmaceuticals, Meat, dairy & poultry products and RMG of all Textiles. Electronic goods exports incr....
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....eased by 37.31% from USD 2.04 Billion in July 2023 to USD 2.81 Billion in July 2024. Engineering Goods exports increased by 3.66% from USD 8.72 Billion in July 2023 to USD 9.04 Billion in July 2024. Drugs and pharmaceuticals exports increased by 8.36% from USD 2.13 Billion in July 2023 to USD 2.31 Billion in July 2024. Meat, dairy & poultry products exports increased by 56.18% from USD 0.29 Billion in July 2023 to USD 0.46 Billion in July 2024. RMG of all Textiles exports increased by 11.84% from USD 1.14 Billion in July 2023 to USD 1.28 Billion in July 2024. India's total exports (Merchandise and Services combined) for July 2024* is estimated at USD 62.42 Billion, registering a positive growth of 2.81 percent vis-à-vis July 202....
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....3.Total imports (Merchandise and Services combined) for July 2024* is estimated at USD 72.03 Billion, registering a positive growth of 7.14 percent vis-à-vis July 2023. Table 1: Trade during July 2024* July 2024 (USD Billion) July 2023 (USD Billion) Merchandise Exports 33.98 34.49 Imports 57.48 53.49 Services* Exports 28.43 26.22 Imports 14.55 13.74 Total Trade (Merchandise +Services) * Exports 62.42 60.71 Imports 72.03 67.23 Trade Balance -9.61 -6.52 * Note: The latest data for services sector released by RBI is for June2024. The data for July 2024 is an estimation, which will be revised based on RBI's subsequent release. Fig 1: Total Trade during July2024* India's total exports during April-July202....
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....4* is estimated at USD 261.47 Billion registering a positive growth of 6.65 percent. Total imports during April-July 2024* is estimated at USD 292.64 Billion registering a growth of 7.30 percent. Table 2: Trade during April-July 2024* April-July 2024 (USD Billion) April-July 2023 (USD Billion) Merchandise Exports 144.12 138.39 Imports 229.70 213.53 Services* Exports 117.35 106.79 Imports 62.95 59.19 Total Trade (Merchandise +Services) * Exports 261.47 245.18 Imports 292.64 272.72 Trade Balance -31.17 -27.55 Fig 2: Total Trade during April-July 2024* MERCHANDISE TRADE * Merchandise exports during July 2024 were USD 33.98 Billion as compared to USD 34.49 Billion in July 2023. * Merchandise imports during ....
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....July 2024 were USD 57.48 Billion as compared to USD 53.49 Billion in July 2023. Fig 3: Merchandise Trade during July 2024 * Merchandise exports during April-July 2024 were USD 144.12 Billion as compared to USD 138.39Billion during April-July 2023. * Merchandise imports during April-July 2024 were USD 229.70 Billion compared to USD 213.53 Billion during April-July 2023. * Merchandise trade deficit during April-July 2024 was USD 85.58 Billion compared to USD 75.15 Billion during April-July 2023. Fig4: Merchandise Trade during April-July 2024 * Non-petroleum and non-gems & jewellery exports in July 2024 were USD 26.92Billion compared to USD 25.47Billion in July 2023. * Non-petroleum, non-gems & jewellery (gold, silver & precious me....
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....tals) imports in July 2024 were USD 38.98Billion compared to USD 36.16Billion in July 2023. Table 3: Trade excluding Petroleum and Gems & Jewellery during July 2024 July 2024 (USD Billion) July 2023 (USD Billion) Non- petroleum exports 28.75 27.77 Non- petroleum imports 43.61 41.67 Non-petroleum & Non-Gems & Jewellery exports 26.92 25.47 Non-petroleum & Non-Gems & Jewellery imports 38.98 36.16 Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones Fig 5: Trade excluding Petroleum and Gems & Jewellery during July 2024 * Non-petroleum and non-gems & jewellery exports in April-July 2024 were USD 109.09 Billion, compared to USD 102.81 Billion in April-July 2023. * Non-petroleum, non....
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....-gems & jewellery (gold, silver & precious metals) imports in April-July 2024 were USD 144.32 Billion, compared to USD 138.25 Billion in April-July 2023. Table 4: Trade excluding Petroleum and Gems & Jewellery during April-July 2024 April-July 2024 (USD Billion) April-July 2023 (USD Billion) Non- petroleum exports 118.19 112.64 Non- petroleum imports 164.33 159.87 Non-petroleum &Non Gems& Jewellery exports 109.09 102.81 Non-petroleum & Non Gems & Jewellery imports 144.32 138.25 Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-July 2024 SERVICES TRADE * The estimated value of services export for July 2024* is....
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.... USD 28.43 Billion as compared to USD 26.22Billion in July 2023. * The estimated value of services imports for July 2024* is USD 14.55 Billion as compared to USD 13.74Billion in July 2023. Fig 7: Services Trade during July2024* * The estimated value of service exports during April-July 2024* is USD 117.35 Billion as compared to USD 106.79 Billion in April-July 2023. * The estimated value of service imports during April-July 2024* is USD 62.95 Billion as compared to USD 59.19 Billion in April-July 2023. * The services trade surplus for April-July 2024* is USD 54.40 Billion as compared to USD 47.60 Billion in April-July 2023. Fig 8: Services Trade during April-July 2024* * Exports of Meat, Dairy & Poultry Products (56.18%), Tobacc....
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....o (39.9%), Electronic Goods (37.31%), Oil Meals (22.01%), Tea (21.79%), Handicrafts Excl. Hand Made Carpet (13.23%), Spices (13%), Rmg Of All Textiles (11.84%), Carpet (10.53%), Plastic & Linoleum (8.84%), Drugs & Pharmaceuticals (8.36%), Iron Ore (7.73%), Cereal Preparations & Miscellaneous Processed Items (5.06%), Man-Made Yarn/Fabs./Made-Ups Etc. (3.91%), Engineering Goods (3.66%), Leather & Leather Products (2.29%), Fruits & Vegetables (2.19%) and Mica, Coal & Other Ores, Minerals Including Processed Minerals (1.49%) record positive growth during July 2024 over the corresponding month of last year. * Imports of Project Goods (-73.06%), Pearls, Precious & Semi-Precious Stones (-32.85%), Fertilisers, Crude & Manufactured (-31%), Dyeing/....
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....Tanning/Colouring Materials (-29.03%), Chemical Material & Products (-26.9%), Gold (-10.65%), Transport Equipment (-9.65%), Pulp And Waste Paper (-7.57%), Cotton Raw & Waste (-2.74%), Wood & Wood Products (-0.71%) and Textile Yarn Fabric, Made-Up Articles (-0.23%) record negative growth during July 2024 over the corresponding month of last year. * Services exports is estimated to grow by 9.89percent during April-July 2024* over April-July 2023. * Top 5 export destinations, in terms of change in value, exhibiting positive growth in July 2024 vis a vis July 2023 are Netherland (29.18%), U S A (3.15%), Tanzania Rep (53.14%), Singapore (14.28%) and Mexico (25.91%). * Top 5 export destinations, in terms of change in value, exhibiting posit....
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....ive growth in April-July 2024 vis a vis April-July 2023 are Netherland (38.32%), U S A (9.06%), U Arab Emts (13.48%), Malaysia (51.86%) and Singapore (24.4%). * Top 5 import sources, in terms of change in value, exhibiting growth in July 2024 vis a vis July 2023 are U Arab Emts (84.87%), China P Rp (13.05%), Russia (22.56%), Qatar (34.61%) and Indonesia (15.05%). * Top 5 import sources, in terms of change in value, exhibiting growth in April-July 2024 vis a vis April-July2023 are U Arab Emts (47.07%), Russia (20.33%), China P Rp (9.66%), Iraq (19.4%) and Indonesia (17.19%). *Link for Quick Estimates<BR> News - Press release - PIB....