India's Merchandise Trade Dynamics: Deficit Expands in August

India's merchandise exports in August declined to USD 34.71 billion, while imports rose to USD 64.36 billion. This led to a trade deficit of USD 29.65 billion. Exports for April-August increased marginally by 1.14 per cent to USD 178.68 billion, with imports growing by 7 per cent to USD 295.32 billion.

According to official data released on Tuesday, India's merchandise exports in August fell 9.3 per cent year-on-year to USD 34.71 billion.

In contrast, imports in the same period rose by 3.3 per cent, reaching USD 64.36 billion.

This resulted in a trade deficit of USD 29.65 billion for the month.

July also saw a drop in exports by 1.5 per cent.

From April to August, exports have increased slightly by 1.14 per cent to USD 178.68 billion, while imports surged by 7 per cent to USD 295.32 billion.

(With inputs from agencies.)