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

  • Trade deficit narrowed to $13.45 billion in August 2019 from $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

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.

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.

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

Representational image. Reuters.

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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Updated Date: Sep 13, 2019 19:23:36 IST