First in 17 months, exports fall

Merchandise exports last month fell 0.8 percent from a year earlier, albeit on an unfavorable basis, to $35.2 billion — the first monthly decline since February 2021 and compared to 23.5 percent year-on-year in June — preliminary data released by Ministry of Commerce on Tuesday.

However, imports rose 43.6 percent in July to $66.3 billion, sending the trade deficit to a new monthly peak of $31 billion. Alternately, exports in July fell 12 percent from June. FE

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