Summary:

India's goods trade deficit fell to a five-month low of US$ 20.78 billion in September, down from US$ 29.65 billion in August, thanks to a small increase in merchandise exports to US$ 34.58 billion, compared to US$ 34.41 billion a year ago. However, exports fell sequentially from US$ 34.71 billion in August. Imports also fluctuated, reaching US$ 55.36 billion in September, down from US$ 64.36 billion in August, indicating weaker local demand and persistent changes in trade values.

India's services sector expanded, with exports reaching US$ 30.61 billion in September, up from US$ 28.42 billion the previous year. Service imports also rose to US$ 16.32 billion, up from US$ 14.58 billion. The total value of merchandise and services exports was US$ 65.19 billion, slightly less than August's US$ 65.40 billion but higher than July's US$ 62.42 billion. However, the overall trade deficit increased to US$ 6.49 billion in September, up from US$ 6.23 billion the previous year.

Source: IBEF 

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