According to government data released on Tuesday, contracting for the sixth straight month, India’s exports fell 12.66 percent to $ 22.7 billion in August due to declining shipments of petroleum, leather, engineering goods and gems and jewelery.
According to the data, the country’s imports declined by 26 percent to $ 29.47 billion in August from a trade deficit of $ 6.77 billion, compared to a decrease of $ 13.86 billion in the same month last year.
Oil imports declined 41.62 percent to $ 6.42 billion in the month under review.
Gold imports increased to $ 3.7 billion in August this year as against $ 1.36 billion in August 2019.
Exports declined 26.65 percent to $ 97.66 billion in the April-August period, while imports declined 43.73 percent to $ 118.38 billion.
The trade deficit during this period stood at $ 20.72 billion.
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