India’s August trade deficit at $7.67 bn falls 38% YOY

New Delhi, Sep 15 (IANS) India’s trade deficit in August this year at $7.67 billion witnessed a 38 per cent fall compared to the same month last year at $12.40 billion, commerce ministry data showed on Thursday.

Exports in August at $21.15 billion fell marginally by 0.3 per cent, compared to $21.58 billion exported in August 2015 — indicating that the trend of continuous decline in Indian exports that had occurred till June this year has been halted.

The government said growth in exports have fallen for the US, European Union and China but Japan exhibited positive growth for June 2016, over the corresponding period of the previous year as per latest WTO statistics.

The lower August trade deficit was due to lower imports during the month at $29.19 billion, which was over 14 per cent lower than the imports of $33.98 billion in August 2015, caused mainly by the fall in global crude oil prices.

–IANS

bc/dg

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