India’s Trade Deficit Widens 139% to USD 27.98 Billion in August 2022

New Delhi, September 14: India's trade deficit in August widened by 139 per cent to $27.98 billion from $11.71 billion recorded during the corresponding period of last year. According to Commerce Ministry data, India's merchandise exports went up by 1.62 per cent to $33.92 billion in August 2022 against $33.38 billion recorded in the corresponding period of last year.

Imports rose by 37.28 per cent on year-on-year basis, thus widening the trade deficit. Meanwhile the country's overall exports (including merchandise and services) in August 2022 stood at $57.47 billion, showing a growth of 6.75 per cent over the corresponding period. India’s Exports Remain Flat at USD 33 Billion in August 2022; Trade Deficit Widens to USD 28.68 Billion.

Overall imports in August 2022 were estimated to be $75.84 billion, showing a growth of 33.15 per cent over corresponding period of last year.

(The above story first appeared on LatestLY on Sep 14, 2022 10:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).