Imports during the week too grew by about 70 percent to USD 10.45 billion, leaving a trade deficit of USD 3 billion.

The country’s exports rose by 50.45 percent to USD 7.41 billion during August 1-7, on account of healthy growth in the shipments of engineering goods, gems and jewellery as well as petroleum products, according to provisional commerce ministry data.

Imports during the week too grew by about 70 percent to USD 10.45 billion, leaving a trade deficit of USD 3 billion.

Exports of engineering goods increased by 63 percent to USD 834 million. Similarly, the outbound shipments of gems & jewellery rose by 121 percent to USD 418 million. For petroleum products exports increased 145 percent to USD 522 million, the data showed.

However, exports of iron ore, oil meals and oil seeds recorded negative growth.

Oil imports during August 1-7, jumped by about 141 percent to USD 1.80 billion. Similarly, imports of electronic goods rose by nearly 31 percent to USD 308 million.

Gold imports during the period declined by 12.48 percent to USD 100 million.

Exports to the US, UAE and Saudi Arab grew by 48.4 percent to USD 462.7 million, 70 percent to USD 209-7 million, and 180 percent to about USD 164 million, respectively.

Source : moneycontrol