Exports stay flat at $33 billion in August; trade deficit widens to $29 billion


NEW DELHI: India’s exports contracted by 1.1% to $33 billion and trade deficit more than doubled to $28.6 billion in August, a preliminary data released by the commerce ministry showed on Saturday.
Trade deficit in August 2021 stood at $ 11.7 billion. Imports rose by 37% to $61.6 billion in August this year.
Commerce secretary BVR Subrahmanyam, however, said the country’s overall exports are expected to cross $450 billion during the current fiscal. “In goods exports, we will be crossing $450 billion this fiscal,” the commerce secretary stated.
During April-August 2022-23, exports registered a growth of 17.1% to $ 192.5 billion. Imports during the five-month period of this fiscal grew by 45.6% to $317.8 billion.
Trade deficit widened to $125.2 billion in April-August this fiscal as against $53.7 billion in the same period last year.
Oil imports in August jumped by 86.4% to $ 17.6 billion. However, gold imports dipped by 47.5% to $3.5 billion, the data showed.





Source link

Leave a Comment

रश्मिका मंदाना की ये कातिल अदाएं Rashmika Mandana Fitness Mantra रश्मिका मंदाना खुद को कैसे रखती है फिट रश्मिका अपनी डाइट में फल और नारियल पानी को जरूर शामिल करती हैं रश्मिका मंदाना का धासू लुक आया सामने