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India sees decline in exports

Xinhua, September 16, 2015 Adjust font size:

India says its exports have declined by 20.7 percent in August this year to 21.3 billion U.S. dollars, thus widening the trade deficit.

The Indian Commerce Ministry has attributed the slump in exports, for the ninth consecutive month, to global economic slowdown and declining commodity prices.

Imports have also plunged nearly 10 percent in August, to 33.7 billion U.S. dollars, and this is due to high gold imports, the Commerce Ministry figures have revealed.

Oil imports plunged 42.5 percent to 7.35 billion U.S. dollars, according to the data.

As a result, the trade deficit has widened, it was 12.5 billion U.S. dollars in August this year as compared to the corresponding period last year, the ministry said. Endi