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India's exports decline 9.3% to $34.71 billion in August
1 min read | Updated on September 17, 2024, 18:21 IST
SUMMARY
India saw an increase in its trade deficit to USD 29.65 billion in August due to a 9.3% decrease in its merchandise exports along with a 3.3% increase in its imports.
Imports increased by 3.3 percent to USD 64.36 billion in August against USD 62.3 billion a year ago
India's merchandise exports in August declined 9.3 percent to USD 34.71 billion from USD 38.28 billion in the year-ago month, according to government data released on Tuesday.
Imports increased by 3.3 percent to USD 64.36 billion in August against USD 62.3 billion a year ago.
The trade deficit, or the gap between imports and exports, during the month under review ballooned to USD 29.65 billion.
In comparison, the trade deficit was USD 23.5 billion in July and USD 20.98 billion in June.
India's merchandise exports dipped by 1.5 per cent in July.
Exports during April-August this fiscal increased 1.14 percent to USD 178.68 billion, and imports grew 7 per cent to USD 295.32 billion.
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