India's exports rise 46% in Aug, trade gap widens to $13.81 bln

India's merchandise exports jumped 45.76% to $33.28 billion in August 2021, led by petroleum products, gems and jewellery, engineering goods and cotton yarn. Similarly, India's overall combined exports of merchandise and services in August 2021 are estimated to be $52.20 billion, exhibiting a positive growth of 33.99% over the same period last year.

Merchandise imports rose 51.72% to $47.09 billion, as against $31.03 billion in the corresponding month of 2020, according to the commerce ministry's data released on Tuesday. Overall imports in August 2021 are estimated to be $58.57 billion, registering a positive growth of 45.38% over the same period last year.

The trade deficit (merchandise) swelled to $13.81 billion, compared to $8.2 billion in August 2020. The previous high was $15.1 billion in April 2021.

The deficit was $55.54 billion during April-August this fiscal as against a deficit of $23.35 billion during the same period of the previous year.

Exports during April-August 2021 grew by 67.33% to $164.1 billion, the data showed. Imports during April-August rose by 80.89% to $219.63 billion.

Oil imports in August surged 80.64% to $11.65 billion, while gold imports climbed 82.48% to $6.75 billion.

Exports of engineering, petroleum products, gems and jewellery and chemicals rose by about 59.01%, 144.6%, 88.3% and 35.94%, respectively.

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