New Delhi: India’s exports declined for the tenth consecutive month in July, down 26% on year, trade secretary Rahul Khullar said on Tuesday.
“Cumulative exports during April-July are down 32%, so the bad run continues. The basic issue is this that you are getting a large contraction in the neighbourhood... It is too early to say (exports outlook). I will wait for September data and till then I will reserve my judgement,” Khullar said.
According to data released earlier this month, merchandise exports in June fell to $12.81 billion. Exports have been declining since the global financial crisis deepened in mid-September.
India’s imports also fell 35-36% on year in July.