Exports fall 14% in Sept, trade deficit halves to $7.8 bn
Published on Thu, Nov 05, 2009 at 10:58 | Source : CNBC-TV18
Updated at Thu, Nov 05, 2009 at 11:45
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Exports fall 14% in Sept, trade deficit halves to $7.8 bn
India's exports and imports in September did not live up to their August performance. Exports fell 14% to USD 13.6 billion. What's worse they were down 6% even from their August levels. This dip comes after three consecutive months of improvement on a month-on-month basis.
India's exports and imports in September did not live up to their August performance. Exports fell 14% to USD 13.6 billion. What's worse they were down 6% even from their August levels. This dip comes after three consecutive months of improvement on a month-on-month basis.
Imports fell 31% largely led by a 33% fall in oil imports. That was to be expected since year ago crude prices were at all time highs. What was disappointing is the fall in non-oil imports by 30% to USD 15 billion.
The only positive from the trade numbers is that trade deficit for September has halved to USD 7.8 billion from USD 15.3 billion a year ago.
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