Exports up 19.21% in August; trade deficit at $17.4 billion

New Delhi: India's exports grew by 19.21 percent to USD 27.84 billion in August on account of healthy performance by sectors such as petroleum.

"Export trade during August 2018 recorded at USD 27.84 billion, a positive growth of 19.21 percent. Exports excluding Petroleum also reported a positive growth of 17.43 percent," Commerce and Industry Minister Suresh Prabhu said in a tweet.

Merchandise imports too rose by 25.41 percent in August to USD 45.24 billion due to the rising crude oil prices, leaving a trade deficit of USD 17.4 billion.

In July, trade deficit soared to a near five-year high of USD 18.02 billion.

During April-August this fiscal, the exports recorded a growth of 16.13 percent, while the imports during the first five months of this fiscal grew by 17.34 percent.