India: Trade deficit widens in August
September 18, 2017
Recently released data related to India’s external sector showed that the trade deficit totaled USD 11.7 billion in August, which was a greater shortfall than the USD 7.7 billion gap recorded in August 2016 (July 2017: USD 11.5 billion deficit).
The deterioration in trade data came on the back of robust growth in exports, while imports jumped. Exports grew 10.3% annually in August, well above the previous month’s 3.9% increase and totaling USD 23.8 billion. Imports expanded a notable 21.2% over the same month last year (July: +15.3% year-on-year), and totaled USD 35.5 billion.
The rolling 12-month trade deficit widened from USD 130 billion in July to USD 134 billion in August.