Exports soar 26% in Sept to $28.6 bn; trade deficit narrows to 7-month low

Gold imports dipped by 5% to $1.71 bn last month

Country's exports increased by 25.67 per cent to $28.61 billion in September on the back of rise in shipments of chemicals, petroleum and engineering products, official data released today showed.

Imports too rose by 18.09 per cent to $37.6 billion in September from $31.83 billion in the year-ago month, according to the data released by the commerce ministry.

Trade deficit stood almost flat at a seven-month low of $8.98 billion in September 2017 against $9 billion in September 2016.

Gold imports dipped by 5 per cent to $1.71 billion last month.

Oil and non-oil imports grew by 18.47 per cent and 17.98 per cent to $8.18 billion and $29.4 billion, respectively in September.

Cumulative exports during April-September 2017-18 increased by 11.52 per cent to $147.18 billion, while imports grew by 25.08 per cent to $219.31 billion, leaving a trade deficit of $72.12 billion.

"In continuation with positive growth exhibited by exports for the last thirteen months, exports during September 2017 have shown growth of 25.67 per cent in dollar terms," the ministry said in a statement.

In September, petroleum, engineering and chemicals exports grew by 37 per cent, 44.24 per cent and 46 per cent, respectively.

However, sectors which recorded negative growth includes handicrafts, iron ore, and fruit and vegetables.