New Delhi: Country’s economy shakes off two-month slump Commodity export September grew slightly by 0.5% to $34.58 billion trade deficit narrowed to $20.78 billion. Imports rose 1.6% to $55.36 billion in September from $54.49 billion a year earlier, according to official data released on Wednesday.
The trade deficit (i.e. the difference between imports and exports) in the same month last year was US$20.8 billion. It soared to $29.65 billion in August, a 10-month high.
Compared with the same period last year, outbound shipments fell by 9.3% and 1.2% in August and July respectively.
From April to September this fiscal year, exports increased by 1%, reaching US$213.22 billion; imports increased by 6.16%, reaching US$350.66 billion. The trade deficit in the first half of the year was US$137.44 billion.
business secretary Sunil Barthwal told reporters here that despite global uncertainty, exports recorded positive growth in September and the first six months of the current fiscal.
Important drivers of exports include engineering, chemicals, plastics, pharmaceuticals, ready-made garments and electronics.
“Despite the global difficulties, we are doing well,” Batwal said.
Gold imports increased slightly to US$4.39 billion in September from US$4.11 billion in the same month last year.
