New Delhi: India’s exports fell by 6.05 per cent year-on-year to USD 26.13 billion in August as shipments of gems and jewellery, engineering goods and petroleum products continued to witness a decline.
Imports were also dropped by 13.4 per cent to USD 39.58 billion in the month due to a sharp decline in shipments of gold, coal, coke, electronic goods, petroleum products.
The trade deficit narrowed to USD 13.45 billion in August 2019 from USD 17.92 billion in the same month of last year.
Export sectors that recorded a growth in august include iron ore, electronic goods, spices, and marine products.
Iron ore shipments skyrocketed more than four-folds or 356.6 per cent, electronic goods by 45 per cent while spices exports jumped 35 per cent.
Shipments of gems and jewellery, engineering goods, petroleum products recorded negative growth, according to the data.
Oil imports declined by 8.9 per cent to USD 10.88 billion, and non-oil imports fell by 15 per cent to USD 28.71 billion.
Cumulatively, during April-August 2019, exports were down 1.53 per cent to USD 133.54 billion while imports contracted by 5.68 per cent to USD 206.39 billion.
Gold imports plunged 62.49 per cent to USD 1.36 billion in August.