New Delhi: India’s exports declined by 1.15% to US$33 billion in August and the trade deficit more than doubled to US$28.68 billion. Ministry of Commerce Shown on Saturday.
The trade deficit stood at $11.71 billion in August 2021.
Imports grew 37 per cent to $61.68 billion in August this year.
Business Secretary BVR subramaniamIt, however, said the country’s total exports are expected to cross USD 450 billion during the current fiscal.
“We will cross USD 450 billion in the current financial year in exports of goods,” Subramaniam said.
During April-August 2022-23, exports registered a growth of 17.12% at USD 192.59 billion. During the five-month period of the current fiscal, imports grew by 45.64 per cent to USD 317.81 billion.
The trade deficit widened to $125.22 billion in April-August this fiscal, from $53.78 billion in the same period last year.
Oil imports rose 86.44 per cent to $17.6 billion in August. However, gold imports declined by 47.54% to USD 3.51 billion, the data showed.
The trade deficit stood at $11.71 billion in August 2021.
Imports grew 37 per cent to $61.68 billion in August this year.
Business Secretary BVR subramaniamIt, however, said the country’s total exports are expected to cross USD 450 billion during the current fiscal.
“We will cross USD 450 billion in the current financial year in exports of goods,” Subramaniam said.
During April-August 2022-23, exports registered a growth of 17.12% at USD 192.59 billion. During the five-month period of the current fiscal, imports grew by 45.64 per cent to USD 317.81 billion.
The trade deficit widened to $125.22 billion in April-August this fiscal, from $53.78 billion in the same period last year.
Oil imports rose 86.44 per cent to $17.6 billion in August. However, gold imports declined by 47.54% to USD 3.51 billion, the data showed.