Merchandise Exports Rebound in September Amid Global Challenges

In September, the country's merchandise exports increased by 0.5% to USD 34.58 billion, while the trade deficit narrowed to USD 20.78 billion. Despite global uncertainties, key export drivers such as engineering and pharmaceuticals contributed to growth during the first half of the fiscal year.

Snapping a two-month decline, the nation's merchandise exports grew marginally by 0.5% to USD 34.58 billion in September. This improvement helped narrow the trade deficit to USD 20.78 billion, according to official figures released on Wednesday.

The data showed that imports rose by 1.6% to USD 55.36 billion last month compared to September of the previous year. The trade deficit, which reflects the gap between imports and exports, had reached a 10-month high of USD 29.65 billion in August.

For the fiscal year until September, exports increased by 1% to USD 213.22 billion, while imports surged by 6.16% to USD 350.66 billion, resulting in a USD 137.44 billion trade deficit. Commerce Secretary Sunil Barthwal emphasized the success of sectors like engineering, chemicals, and electronics in driving export growth amid challenging global conditions.

(With inputs from agencies.)