India's exports surge 1.62% in Aug with outbound shipments worth $33.92 bn

At $33.92 billion, outbound shipments from India grew 1.62 per cent in August, as compared to last year, improving marginally from the preliminary estimate of $33 billion as a result of disruptions caused by high inflation among all economies, resulting in tepid demand. Trade deficit fell from a record $30 billion in July to $27.98 billion, but remained elevated. External demand for key commodities such as engineering goods, gems and jewellery, and textiles fell in August. Imports also remained high at $61.9 billion, but fell sequentially from $66.27 billion.