Exports rise marginally in August; trade deficit more than doubles to $27.98 billion

NEW DELHI: India’s exports rose marginally by 1.62 per cent to $33.92 billion, while trade deficit more than doubled to $27.98 billion in August due to increased crude oil imports, commerce ministry data said on Wednesday.
The revised data showed that imports rose by 37.28 per cent to $61.9 billion in August this year.
The preliminary data released by the ministry on September 3 had shown a 1.15 per cent decline in exports to $33 billion in August.
During April-August 2022-23, exports registered a growth of 17.68 per cent to $193.51 billion. Imports during the five-month period of this fiscal grew by 45.74 per cent to $318 billion.
Trade deficit widened to $124.52 billion in April-August this fiscal as against $53.78 billion in the same period last year.
The deficit in August last year was $11.71 billion.
Crude oil imports in August this year increased by 87.44 per cent to $17.7…

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