NEW DELHI, Sept 3 (AFP): India's trade deficit widened to 5.01 billion dollars in July from four billion dollars in the same month last year as imports jumped, official data showed today.
Imports in July 2007 rose 20.4 per cent to 17.5 billion dollars while exports gained 18.5 per cent to 12.5 billion dollars, India's trade ministry said.
Higher global oil prices and imports to meet demand in the fast-growing economy spurred the trade gap, according to the data.
Non-oil imports jumped 25.9 per cent to 12.5 billion dollars in July while oil imports rose 8.75 per cent to 5.04 billion dollars, according to the data.
In the first four months of India's financial year-April to July-non-oil imports rose 44 per cent to 52.5 billion dollars and oil imports rose 5.3 per cent to 19.8 billion dollars, according to the data.
India's July trade deficit widens to $5.01b
FE Team | Published: September 04, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
Share if you like