Exports rise 6.7% to $35.1 bn, trade deficit shrinks to $26.49 bn in Aug

Imports declined 10.12 per cent to $61.59 billion, according to govt data

- OUR CORRESPONDENT

India’s exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday.

Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.

The US was top exporting destination for India at $6.86 billion showing a growth of 7.15 per cent year-on-year, followed by the UAE ($3.24 billion), the Netherland ($1.83 billion), China ($1.21 billion) and the UK (1.14 billion) during August.

Trade tensions have been simmering between India and the US, with the latter slapping steep tariffs on Indian goods.