Contracting for the sixth straight month, India’s exports slipped 12.66 per cent to $22.7 billion in August, as a result of decline in the shipments of petroleum, leather, engineering goods and gems and jewellery items, according to the government data released on Tuesday.
The country’s imports too declined 26 per cent to $29.47 billion in August, leaving a business deficit of $6.77 billion, in comparison to a shortfall of $13.86 billion in the same month final year, as per the data.
Oil imports declined by 41.62 per cent to $6.42 billion in the month under review.
Gold imports jumped to $3.7 billion in August this year as against $1.36 billion in August 2019.
All the way through the April-August period, exports declined by 26.65 per cent to $97.66 billion, while imports fell 43.73 per cent to $118.38 billion.
Commerce deficit right through the period stood at $20.72 billion.
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