India recorded a trade deficit of US$2.91 bil in September, the Ministry of Commerce said, as merchandise exports grew 5.27% to US$27.4 bil while imports declined 19.6% to US$30.31 bil over the same month last year.
India’s monthly gold imports declined 52.8% and oil imports dropped 35.92%.
For the April-September period, the first half of India’s financial year, oil imports fell 51.14% to US$31.85 bil.
The value of exports between April and September dropped 21.43% to US$125.06 bil over the corresponding period last year.
Imports for the half-year period were US$148.69 bil, plummeting 40% from the same period last year. – Oct 3, 2020
