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Exports Fall 13% In August; Trade Deficit Narrows To $6.77 Billion

Contracting for the sixth straight month, India’s exports slipped 12.66 per cent to $22.7 billion in August, on account of decline within the shipments of petroleum, leather-based, engineering items and gems and jewelry objects, in accordance with the federal government information launched on Tuesday.

The nation’s imports too declined 26 per cent to $29.47 billion in August, leaving a commerce deficit of $6.77 billion, in comparison with a shortfall of $13.86 billion in the identical month final yr, as per the information.

Oil imports declined by 41.62 per cent to $6.42 billion within the month below overview.

Gold imports jumped to $3.7 billion in August this yr as towards $1.36 billion in August 2019.

Through the April-August interval, exports declined by 26.65 per cent to $97.66 billion, whereas imports fell 43.73 per cent to $118.38 billion.

Commerce deficit through the interval stood at $20.72 billion.

(This story has not been edited by The Press Reporter workers and is auto-generated from a syndicated feed.)

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