India: Exports and imports both decrease in September
October 15, 2019
Merchandise exports declined for the second consecutive month in September, dropping 6.6% compared to the same month a year earlier and amounting to USD 26.0 billion (August: -6.0% year-on-year). Merchandise imports also decreased in September, and for the fourth month running; imports of goods dropped 13.9% in September and amounted to USD 36.9 billion, largely due to fewer imports of coal, oil and gems (August: -13.4% year-on-year).
The merchandise trade deficit narrowed to USD 10.9 billion in September, down from both the USD 15.0 billion shortfall in the same month a year earlier and the USD 13.5 billion deficit in August. The 12-month trailing sum of the trade deficit shrank to USD 165.8 billion in September, down from USD 169.9 billion in August.
Author: Edward Gardner, Economist