Exports decline 6pc to USD 26.13 bn; trade deficit narrows

New Delhi, Sep. 13 (PTI): India’s exports dropped by 6.05 per cent to USD 26.13 billion in August compared to the year-ago month, official data released on Friday showed.

Imports too declined by 13.45 per cent to USD 39.58 billion, narrowing trade deficit to USD 13.45 billion in August.

The deficit was USD 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.

Oil imports declined by 8.9 per cent to USD 10.88 billion, and non-oil imports fell by 15 per cent to USD 28.71 billion.

Cumulatively, during April-August 2019, exports were down 1.53 per cent to USD 133.54 billion while imports contracted by 5.68 per cent to USD 206.39 billion.

Gold imports plunged 62.49 per cent to USD 1.36 billion in August.