India’s trade deficit dips in Sep as imports decline

India’s merchandise trade deficit fell to $19.4 billion in September from $24.2 billion in August as imports declined by 15 per cent during the month, Commerce Secretary Sunil Barthwal said at a press briefing on Friday.

The country’s merchandise exports declined by 2.6 per cent to $34.47 billion compared to the same month last year, while the imports were valued at $53.84 billion in September.

In the previous month, merchandise exports were $34.48 billion, while imports stood at $58.64 billion.

Sequentially compared to August, exports remained flat while imports declined 8.2 per cent.

The exports that were hit during September included petroleum products, gems and jewellery and engineering goods.

However, electronic goods fared better.

Gold imports went up during the month.