India's export growth slips to 2.35 pc at USD 26.95 bn in Aug

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India's export growth slips to 2.35 pc at USD 26.95 bn in Aug
Continuing the downtrend, India's export growth slipped to 2.35 per cent at USD 26.95 billion in August, pushing up trade deficit to USD 10.83 billion.

Gold imports have jumped significantly to USD 2.03 billion during the month under review from USD 738.7 million a year ago. According to the Ministry of Commerce and Industry's data, overall imports grew only 2.08 per cent to USD 37.79 billion. Exports in May and June had registered a growth of 12.4 per cent and 10.22 per cent, respectively. In July, export growth further slipped to 7.33 per cent.

In April-August period, exports grew 7.31 per cent to USD 134.79 billion. Imports, however, dipped by 2.69 per cent to USD 190.94 billion during the first five months of this financial year. Trade deficit during the period (April-August) stood at USD 56.15 billion down from USD 70.6 billion during the same period last year. Oil imports declined by 14.97 per cent in August to USD 12.83 billion. However non-oil imports during the month under review were up by 13.82 per cent to USD 24.95 billion.


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