Indian exports fell 6.05 percent to $ 26.13 billion last month as demand in the US and Europe markets declined. This figure was $ 27.81 billion in the same period last year. According to the government data released on Friday, exports in the current financial year till August declined by 1.53 to $ 133.54 billion as against $ 135.62 billion in the same period of the previous fiscal. EX PM Manmohan Singh Tells To Modi Govt to Focus On Economy
Imports declined 13.45 percent to $ 39.58 billion
Total imports declined by 13.45 percent to $ 39.58 billion in August 2019, compared to $ 45.73 billion in August 2018. In the current financial year, total imports have fallen by 5.68 percent to $ 206.39 by August 2019. In the same period last year (April-August 2018), total imports stood at $ 218.81 billion.
Growth in total exports of services and goods
According to the data, total exports of services and goods increased by an estimated 3.20 percent to $ 227.36 billion in April to August 2019. Total imports declined 1.18 percent to $ 268.24 billion in the same period.
Trade deficit down from $ 17.92 billion to $ 13.45 billion
The data said that the trade deficit has come down to $ 13.45 billion in August 2019. In August 2018, the figure was $ 17.92 billion. The total trade deficit so far in the current financial year has been $ 40.89 billion, while the trade deficit for the same period in the previous fiscal was $ 51.13 billion.