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

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New Delhi: India’s exports dropped by 6.05 p.c to $26.13 billion in August in comparison with the year-ago month, official information launched on Friday confirmed.

Imports too declined by 13.45 p.c to $39.58 billion, narrowing commerce deficit to $13.45 billion in August.

The deficit was $17.92 billion in August final 12 months.

Export sectors that recorded constructive development within the final month embrace iron ore, digital items, spices, and marine merchandise.

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

Representational picture. Reuters.

Shipments of gems and jewelry, engineering items, petroleum merchandise recorded unfavourable development, based on the information.

Oil imports declined by 8.9 p.c to $10.88 billion, and non-oil imports fell by 15 p.c to $28.71 billion.

Cumulatively, throughout April-August 2019, exports have been down 1.53 p.c to $133.54 billion whereas imports contracted by 5.68 p.c to $206.39 billion.

Gold imports plunged 62.49 p.c to $1.36 billion in August.

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