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Exports up 4.62 pc to USD 22.9 bn in Sep

Press Trust of India  |  New Delhi 

Arresting the two-month fall, grew by 4.62 per cent to USD 22.9 billion in September on the back of healthy growth in sectors like engineering and gems and jewellery.

The outward shipments stood at USD 21.8 billion in September 2015.

However, contracted by 2.54 per cent to USD 31.22 billion, leaving a trade deficit of USD 8.33 billion in the month under review. The trade gap in the month under review was lower than USD 10.16 billion in September 2015, according to the data released by the commerce ministry.

The export sectors which recorded positive growth include engineering (6.51 per cent), gems and jewellery (22.42 per cent), handicrafts (23 per cent), textiles (12.62 per cent) and chemicals (6 per cent).

of petroleum goods, however, dipped 1.43 per cent to USD 2.55 billion in September.

Oil during the month grew by 3.13 per cent to USD 6.88 billion.

Gold dipped by 10.3 per cent to USD 1.8 billion in September 2016, which helped bridge the trade gap.

During April-September this fiscal, dipped by 1.74 per cent to USD 131.4 billion. Imports too contracted by 13.77 per cent to USD 174.4 billion, leaving a trade deficit of USD 43 billion.

Since December 2014, exports fell for the straight 18 months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year thereafter again entered into negative zone in July and August.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 20:58 IST