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July exports shrink 10.2%, trade deficit hits three-month high of $4.83 bn

Exports shrank by 10.2 per cent in July, slightly lower than June's 12.4 per cent, as trading actvity by major forex earners such as petroleum, gems, electronics and textiles remained subdued.

Outbound trade stood at $23.64 billion, completing five straight months of contraction. This was, however, a much lower rate than the massive falls of 60.28 per cent in April and 36.47 per cent in May, when the lockdown was