Mumbai : India’s exports declined by 14.8 percent year-on-year to USD 22.4 billion in July this year due to the global demand slowdown, in July 2011, the country’s shipment stood at USD 26.3 billion.

Imports too contracted during the month by 7.61 percent to USD 37.9 billion, leaving a trade deficit of USD 15.5 billion, DGFT Anup Pujari told reports in New Delhi on Tuesday.

During the April-July period of 2012-13, exports have shrunk by 5.06 percent to USD 80.4 billion.

Imports during the period dipped by 6.47 percent to USD 153.2 billion.

“Last month, exports have fallen more than imports. This is the highest fall this fiscal,” Pujari said.