India's merchandise exports decreased from last year in July, reflecting the slump in demand amid the global economic slowdown, reports said Tuesday citing government officials.
Export of goods fell 14.8 percent annually to $22.4 billion in July. The value of imports decreased 7.78 percent from last year to $37.9 billion. July's overall trade resulted in a deficit of $15.5 billion versus $14.8 billion last year.
In the April-July period, the value of shipments was lower by 5.06 percent year-on-year at $97.6 billion, and imports were down by 6.91 percent.
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