 "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.
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.
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