New Delhi: The trade deficit of the country surged $26.72 billion in September. The trade deficit increased due to decline in exports from the country. Trade deficit is the difference between imports and exports of the country.
The overall exports from the country declined by 3.52% to $32.62 billion in September. The decline in engineering, ready-made garments of all textiles, chemicals, cotton yarn, fabrics, and rice exports is the main reason for this. Imports during the month, however, grew by 5.44% to $59.35 billion as against $56.29 billion in September 2021.
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The exports during April-September 2022-23 rose by 15.54% to $229.05 billion. The imports during the period increased by 37.89% to $378.53 billion. The trade deficit during the first 6 months of the fiscal year has widened to $149.47 billion. It was at $76.25 billion during April-September 2021-22.
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