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