Exports Soar 25.67 Per Cent To $28.61 Billion In September, Trade Deficit At 7-Month Low

India's exports soared by 25.67 per cent to $28.61 billion in September on the back of rise in shipments of chemicals, petroleum and engineering products, official data released on Friday showed.

Imports too rose by 18.09 per cent to $37.6 billion in September from $31.83 billion in the year-ago month, according to the data released by the commerce ministry.

Trade balance stood almost flat at $8.98 billion in September 2017 against $9 billion in September 2016.

Gold import dipped by 5 percent to $1.71 billion last month. Oil and non-oil imports grew by 18.47 per cent and 17.98 percent to $ 8.18 billion and $ 29.4 billion, respectively in September. Cumulative exports during April-September 2017-18 increased by 11.52 percent to $147.18 billion, while imports grew by 25.08 percent to $219.31 billion, leaving a trade deficit of $72.12 billion.

According to Mint, India’s trade deficit was at a 7-month low in September.

"In continuation with positive growth exhibited by exports for the last thirteen months, exports during September 2017 have shown growth of 25.67 per cent in dollar terms," the ministry said in a statement.

In September, petroleum, engineering and chemicals exports grew by 37 percent, 44.24 percent and 46 percent, respectively.

However, sectors which recorded negative growth include handicrafts, iron ore, and fruit and vegetables. (PTI)