Exports jump 25.67% in Sept; trade deficit narrows to 7-month low

Trade deficit narrowed to 7-month low of USD 8.98 billion in the month under review from USD 9.07 billion in September 2016.

By Ajeet Kumar | Last Updated: Oct 13, 2017, 19:22 PM IST
Exports jump 25.67% in Sept; trade deficit narrows to 7-month low

New Delhi: India's exports recorded a robust growth of 25.67 percent to USD 28.61 billion in September, mainly on account of rise in shipments of  engineering, chemicals, and petroleum products, government data showed on Friday.

Imports too rose by 18.09 percent to USD 37.59 billion in September from USD 31.83 billion in the year-ago month, according to the data released by the commerce ministry.

Trade deficit narrowed to 7-month low of USD 8.98 billion in the month under review from USD 9.07 billion in September 2016. It was USD 11.64 billion in August.

Oil and non-oil imports grew by 18.47 percent and 17.98 percent to USD 8.18 billion and USD 29.40 billion, respectively in September.

Gold imports dipped by 5 percent to USD 1.71 billion last month. Gold imports had recorded a growth of about 69 percent to USD 1.88 billion in August.

Cumulative exports during April-September 2017-18 increased by 11.52 percent to USD 147.18 billion, while imports grew by 25.08 percent to USD 219.31 billion, leaving a trade deficit of USD 72.12 billion.

"In continuation with the positive growth exhibited by exports for the last thirteen months, exports during September have shown growth of 25.67 percent in dollar terms valued at USD 28.61 billion, " the ministry said in a statement.