India's trade deficit narrows sequentially to $20.78 billion in September
New Delhi/IBNS: India’s trade deficit narrowed to a five-month low of $20.8 billion in September, down from $29.7 billion in August, as per data released on Wednesday (Oct. 16).
The development comes as merchandise export growth turned positive for the first time in three months, according to reports.
The economists had expected India's September data to be $25 billion, as per a Reuters poll.
While exports saw a slight decline of 0.5 percent compared to a sharper 9.4 percent drop in the previous month, imports rose by 1.6 percent, following a 2.8 percent increase in August.
This trade data contrasts with trends in the manufacturing PMI, which had suggested weakening external conditions and a drop in manufacturing activity to its lowest point in eight months.
For the first half of the 2024-25 fiscal year, exports rose by 1 percent, while imports increased by 6.1 percent.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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