India’s exports decline 9.3% to $34.71 billion in Aug; trade deficit at $29.65 billion

New Delhi: India’s merchandise exports in August declined 9.3 per cent to $34.71 billion from $38.28 billion in the year-ago month, according to government data released Tuesday.

Imports increased by 3.3 per cent to $64.36 billion in August against $62.3 billion a year ago.

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The trade deficit, or the gap between imports and exports, during the month under review ballooned to $29.65 billion.

India’s merchandise exports dipped by 1.5 per cent in July.

Exports during April-August this fiscal increased 1.14 per cent to $178.68 billion, and imports grew 7 per cent to $295.32 billion.

PTI