August 20, 2019
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India's Export Growth Slips To 2.35% At $26.95 Bn In Aug
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BW Online Bureau
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Continuing the downtrend, India's export growth slipped to 2.35 per cent at $26.95 billion in August, pushing up trade deficit to $10.83 billion.
Gold imports have jumped significantly to $2.03 billion during the month under review from $738.7 million a year ago.
According to the Ministry of Commerce and Industry's data, overall imports grew only 2.08 per cent to $37.79 billion.
Exports in May and June had registered a growth of 12.4 per cent and 10.22 per cent, respectively. In July, export growth further slipped to 7.33 per cent.
In April-August period, exports grew 7.31 per cent to $134.79 billion.
Imports, however, dipped by 2.69 per cent to $190.94 billion during the first five months of this financial year.
Trade deficit during the period (April-August) stood at $56.15 billion down from $70.6 billion during the same period last year.
Oil imports declined by 14.97 per cent in August to $12.83 billion. However non-oil imports during the month under review were up by 13.82 per cent to $24.95 billion.
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