Exports grew by 11.64 per cent to USD 25.83 billion in July, snapping two consecutive months of decline, on the back of demand from Africa, Asean and Far East regions.
Imports also declined by 6.2 per cent to USD 38.1 billion during the month, leaving a trade deficit of USD 12.2 billion. Trade deficit was at USD 17.47 billion in July last year.
Gold and silver imports stood at USD 2.9 billion in July, down from USD 4.4 billion in the same period last year.
Commerce Secretary S R Rao said exports to regions like Africa, ASEAN and Far East are helping the country's shipments to grow.
During April-July this fiscal, exports grew by 1.72 per cent to USD 98.2 billion. Imports too increased by 2.82 per cent to USD 160.7 billion during the period.
Trade deficit during the first four months of this iscal stood at USD 62.4 billion.
Oil imports in July declined by 8 per cent to USD 12.7 billion and during April-July period it grew by 2.65 per cent to USD 54.5 billion.
