New Delhi: India’s exports registered a steepest decline in 13-month in August. The exports from India in August stood at 9.3 per cent. The value of exports is at $ 34.71 billion. The imports increased by 3.3 per cent to $64.36 billion.
The trade deficit soared to a 10-month of $29.65 billion. Trade deficit is the difference between exports and imports. The trade deficit in October 2023 was $30.43 billion. The merchandise exports in July last year contracted by over 10 per cent.
Gold imports doubled to $10.06 billion in August from $4.93 billion in the same month last year. Silver imports swelled to $ 727 million in the month under review from $159 million in August 2023.Crude oil imports dipped by 32.38 per cent to $11 billion.
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India’s merchandise exports dipped by 1.5 per cent in July. Exports during April-August this fiscal increased 1.14 per cent to $178.68 billion, and imports grew 7 per cent to $ 295.32 billion. Merchandise trade deficit during April-August 2024 was $116.64 billion compared to $ 99.16 billion during April-August 2023.
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