India’s merchandise trade deficit widened to $31.98 billion in July from $30.43 billion in June, reflecting a higher gap between the country’s goods imports and exports.Economists had ‌expected the deficit to be $30.20 billion in July, according to ⁠a Reuters poll.The ⁠data underscores pressure on India to sustain exports and contain import costs as the disruptions in key shipping routes around the Middle East hit outgoing shipments amid high energy ⁠prices.Merchandise exports rose to $44.24 billion in July from $40.41 billion in the previous month, government data showed, while imports rose ‌to $76.22 billion against $70.84 billion in June.Agarwal attributed the increase in the country's outbound shipments to higher exports of petroleum products, electronics, engineering and marine goods.Earlier this week, the U.S. and Yemen's ⁠Iran-aligned Houthis reported separate attacks on shipping as prospects for ending the Iran war appeared to dim, with Tehran saying the Strait of Hormuz would remain closed unless Washington accepts its conditions.Read more at:https://economictimes.indiatimes.com/news/economy/foreign-trade/indias-july-trade-deficit-widens-to-31-98-bn-from-30-43-bn-in-june/articleshow/133205668.cms (ICE MUMBAI)

Fonte notizia: The Economic Times