India's Trade Balance: September Shows Slight Export Rise Amid Growing Imports

India's merchandise exports in September reached USD 34.58 billion, slightly higher than USD 34.41 billion a year earlier, while imports rose to USD 55.36 billion, up 1.6% from the prior year. The trade deficit for September stood at USD 20.78 billion. Exports increased by 1% during April-September, with imports growing by 6.16%.

According to the latest government data released on Wednesday, India's merchandise exports for September registered a slight increase, bringing the total to USD 34.58 billion, compared to USD 34.41 billion from the previous year. This increment, though marginal, highlights the ongoing economic efforts amidst global trading challenges.

In contrast, imports marked a 1.6% rise, escalating from USD 54.49 billion last year to USD 55.36 billion this September. This increase in imports has widened the trade gap, with the trade deficit reaching USD 20.78 billion for the month in question.

Despite a 9.3% year-on-year decline in August exports, the first half of the fiscal year from April to September showed positive movements. Here, exports saw a modest 1% increase, amounting to USD 213.22 billion, while imports surged by 6.16%, totaling USD 350.66 billion.

(With inputs from agencies.)