The country's imports too declined 26 percent to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last year, as per the data.
Contracting for the sixth straight month, India's exports slipped 12.66 per cent to $22.7 billion in August, on account of decline in the shipments of petroleum, leather, engineering goods and gems and jewelry items, according to the government data released on 15 September.
The country's imports too declined 26 percent to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last 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. During the April-August period, exports declined by 26.65 per cent to $97.66 billion, while imports fell 43.73 percent to $118.38 billion.
Trade deficit during the period stood at $20.72 billion.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.