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Gold imports dipped 42.2 per cent to $1.71 billion in July.

Gold imports dipped 42.2 per cent to $1.71 billion in July.

India's exports growth turned positive in July, spurting 2.25 per cent, while trade deficit narrowed to a four-month low of $13.43 billion, government data showed on Wednesday. Exports increased to $26.33 billion in July as against $25.75 billion in the same month last year. Decline in overall imports, including oil and gold, led to narrowing of the trade deficit -- the difference between imports and exports. Trade deficit in July 2018 stood at $18.63 billion. The previous low was in March 2019, when this gap was at $10.89 billion.

Gold imports declined 42.2 per cent to $1.71 billion in July. Oil imports fell 22.15 per cent to $9.6 billion, while non-oil slipped by 5.92 per cent to $30.16 billion.

Export sectors that showed positive growth in the last month included chemical, iron ore, electronics, marine products and pharmaceuticals. However, shipments of some key sectors recorded negative growth, including gems and jewellery (- 6.82 per cent), engineering goods (- 1.69 per cent) and petroleum products (- 5 per cent), according to the data.

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