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India's August exports decline, trade deficit at $24.16 billion
Industry News- Sep 18,23
Imports also saw a decline of 5.23%, reaching $58.64 billion, down from the $61.88 billion recorded in August 2022.
According to government data released on Friday, September 15, India's exports in August this year dropped by 6.86% to $34.48 billion, a decrease from $37.02 billion in the same month the previous year.
Imports also saw a decline of 5.23%, reaching $58.64 billion, down from the $61.88 billion recorded in August 2022.
For the month, India's trade deficit, representing the disparity between imports and exports, stood at $24.16 billion.
From April to August of this fiscal year, exports contracted by 11.9%, totalling $172.95 billion.
Imports over the five-month period experienced a 12% decrease, amounting to $271.83 billion.
In July, the trade deficit increased to $20.67 billion, up from $20.13 billion in June. In a year-on-year comparison, this figure was lower than the $25.7 billion deficit recorded in July the previous year.
Source: Business Standard
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