Exports continue to dip for fourth month in a row

Updated: Friday, September 14, 2012, 10:57 [IST]

India's exports declined again in August for the fourth straight month, exports declined by 9.7% to $24.7 billion, while fell 5.08% to $ 40 billion, leaving a trade deficit of $15.7 billion.

During August 2012, the performance of some sectors with regard to exports including engineering which stood at $ 4.6 billion, petroleum products stood at $ 4.0 billion, gems and jewellery at $ 3.4 billion), drugs and pharmaceuticals at $ 1.2 billion, Readymade Garments at $ 0.9 billion.

Imports during August 2012, performance of some of the sectors are crude petroleum stood at $ 12.8 billion, gold and silver at $ 2.6 billion, electronic goods at $ 2.62 billion.

The downtrend in export may be due sagging global economy and weak demand from euro zone and the US affected the export sentiment, widening the trade deficit.

If a country's export value is more than import, this negative balance is called trade deficit.

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