India's export growth slips to 2.35 per cent at $ 26.95 billion in August - Economic Times

NEW DELHI: Continuing the downtrend, India's export growth slipped to 2.35 per cent at $ 26.95 billion in August, pushing up trade deficit to $ 10.83 billion.

Gold imports have jumped significantly to $ 2.03 billion during the month under review from $ 738.7 million a year ago.

According to the Ministry of Commerce and Industry's data, overall imports grew only 2.08 per cent to $ 37.79 billion.

Exports in May and June had registered a growth of 12.4 per cent and 10.22 per cent, respectively. In July, export growth further slipped to 7.33 per cent.

In April-August period, exports grew 7.31 per cent to $ 134.79 billion.

Imports, however, dipped by 2.69 per cent to $ 190.94 billion during the first five months of this financial year. Trade deficit during the period (April-August) stood at $ 56.15 billion down from $ 70.6 billion during the same period last year.

Oil imports declined by 14.97 per cent in August to $ 12.83 billion. However non-oil imports during the month under review were up by 13.82 per cent to $ 24.95 billion.

Copyright © 2014 Times Internet Limited. All rights reserved.