Exports rise 45% to $33 bn in August; trade deficit at four-month high

This, despite a 45% YoY spike in shipment values; non-oil, non-bullion import growth was 34% YoY

India exported goods worth $33.14 billion in August, up 45.17 per cent on-year, as demand continued to remain robust from other countries, revealed the preliminary data released by the commerce and industry ministry.

Outbound shipments were dominated by higher demand for items such as engineering and petroleum products, gems and jewellery. The 45-per cent growth can also be partially attributed to a low base in August 2020 due to disruption caused by Covid-19. However, the base effect is on the wane.

Even as growth witnessed 2-per cent decline on a sequential basis, compared to August 2019, it was