In a positive development for Indian economy, the month of August saw the exports jump 45.17 per cent to $33.14 billion on account of healthy growth in segments like engineering, petroleum, gems and jewellery and chemicals, reports Economic Times.
Exports of engineering, petroleum products, gems and jewellery and chemicals rose by about 59 per cent to $9.63 billion, 140 per cent to $4.55 billion, 88 per cent to $3.43 billion, and 35.75 per cent to $2.23 billion, respectively.
In total, from April-August, the exports have zoomed up by 66.92 per cent to $163.97 billion.
The August month, however, also saw the imports rising by 51.47 per cent to $47.01 billion. The figure stood at $31.03 billion in the same month last year. These were primarily driven by oil and gold imports which rose by 80.38 per cent to $11.64 billion, and 82.22 per cent to $6.75 billion respectively.
Meanwhile, the trade deficit in August widened to $13.87 billion. The trade deficit in August 2020 was $8.2 billion. It stood at $55.9 billion during April-August this fiscal as compared to $22.7 billion during the same period of the previous year.
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