Exports decline 7% to $34.48 bn in Aug, trade deficit stands at $24.16 bn

India's exports declined by 6.86 per cent to $34.48 billion in August this year as against $37.02 billion in the same month last year, government data showed on Friday.

Imports too declined by 5.23 per cent to $58.64 billion as against $61.88 billion recorded in August 2022.

India's trade deficit, which shows the difference between imports and exports, the country's trade deficit in the month stood at $24.16 billion.

During April-August this fiscal, exports contracted by 11.9 per cent to $172.95 billion.

Imports during the five-month period fell by 12 per cent to $271.83 billion.

It rose to $20.67 billion in July as compared to $20.13 billion in June. On a year-on-year basis, the deficit was down as compared to $25.7 billion in July last year.