Trade Deficit More Than Doubles To $28 Bn In August
According to the official data, the trade deficit in August 2021 stood at USD 11.71 billion. Also, the imports grew by 37.28 per cent to USD 61.9 billion in August this year
The Ministry of Commerce and Industry on Wednesday said that India’s trade deficit more than doubled to USD 27.98 billion in August, while exports increased by 1.62 per cent to USD 33.92 billion.
According to the official data, the trade deficit in August 2021 stood at USD 11.71 billion. Also, the imports grew by 37.28 per cent to USD 61.9 billion in August this year.
Talking about the exports, it witnessed a growth of 17.68 per cent to USD 193.51 billion from April to August 2022-23.
Apart from that, India’s imports during the five-month period of this fiscal increased by 45.74 per cent to USD 318 billion.
Meanwhile, the trade deficit increased to USD 124.52 billion from April to August this fiscal as compared to the USD 53.78 billion in the same period last year.
(With agency inputs)
