• Friday, August 19, 2022

Business

India’s Trade Deficit Narrows to Five-Month Low of £10.62 Billion in September

In the first half of the current fiscal year, the trade deficit came in at £71.66bn with exports up by 12.5 per cent and imports witnessing a rise of 16.2 per cent. (Photo: Lukas Schulze/Getty Images).

By: Radhakrishna N S

India’s trade deficit declined to a five-month low of £10.62 billion in September 2018 despite jumping crude oil prices in the international market, said India’s Ministry of Commerce and Industry on Monday (15). Country’s trade deficit during the first half of the financial year 2018-19 stood at £71.66bn. The exports for the month of September went down by 2.2 per cent while the imports recorded a jump of 10.5 per cent over the last fiscal year. “Mid-year assessment shows exports growing in a healthy manner, building on export growth seen in 2016-17 and 2017-18,” the ministry said in a statement.…

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