New Delhi: Merchandise exports from India rose marginally by 0.5 per cent to USD 34.58 billion in September. Imports to the country increased by 1.6 per cent to USD 55.36 billion in September. The trade deficit narrowed to USD 20.78 billion in last month.
The trade deficit is the gap between imports and exports. The trade deficit was at USD 20.8 billion during September 2023. It soared to a 10-month high of USD 29.65 billion in August 2024.
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The outbound shipments had declined by 9.3 per cent in August and 1.2 per cent in July compared to the year-ago months. Exports during April-September this fiscal increased by 1 per cent to USD 213.22 billion, and imports grew by 6.16 per cent to USD 350.66 billion. The trade deficit during the first half of the fiscal was USD 137.44 billion.
The important drivers of exports included engineering, chemicals, plastics, pharma, ready-made garments and electronics. Gold imports edged up to USD 4.39 billion in September against USD 4.11 billion in the same month last year.
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