Exports decline 6% to $26 bn, imports fall 13% to 39.6 bn; trade deficit narrows: Commerce ministry data

New Delhi: India’s exports dropped by 6.05 percent to $26.13 billion in August compared to the year-ago month, official data released on Friday showed. Imports too declined by 13.45 percent to $39.58 billion, narrowing trade deficit to $13.45 billion in August.

#AugustTradeData | August exports at $26.13 bn, Down 6.1% (YoY)#Trade pic.twitter.com/nr9cLelBgy

— CNBC-TV18 (@CNBCTV18Live) September 13, 2019

The deficit was $17.92 billion in August last year. Export sectors that recorded positive growth in the last month include iron ore, electronic goods, spices, and marine products. [caption id=“attachment_4233495” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Shipments of gems and jewellery, engineering goods, petroleum products recorded negative growth, according to the data. Oil imports declined by 8.9 percent to $10.88 billion, and non-oil imports fell by 15 percent to $28.71 billion. Cumulatively, during April-August 2019, exports were down 1.53 percent to $133.54 billion while imports contracted by 5.68 percent to $206.39 billion. Gold imports plunged 62.49 percent to $1.36 billion in August.