India: Merchandise trade deficit narrows in August
Latest reading: In August, the trade balance was USD -26.5 billion, following a USD -27.4 billion figure in the previous month but a slightly larger deficit than expected by the market. This marks the first trade data since the U.S. raised tariffs on India to 25%. Over the last 12 months, the trade balance summed to USD -282.9 billion.
Exports were up 6.7% in year-on-year terms in August, following a 7.3% rise in the previous month. Imports dropped 10.1% in year-on-year terms in August, following a 8.6% rise in the prior month.