Exports up 4.8% to $35.45 billion days after initial data showed a dip

The World Trade Organization (WTO) has also painted a grim picture for the outlook of global trade next year amid fears of a recession

India’s merchandise exports grew 4.8 per cent year-on-year (YoY) to $35.45 billion in September, according to revised data released by the commerce department on Friday, reversing its earlier estimate of a contraction for the first time in 19 months.

Meanwhile, imports rose 8.66 per cent YoY to $61.16 billion in September. This resulted in a trade deficit of $25.71 billion as against $22.47 billion last year. However, the deficit eased sequentially from $27.98 billion in August, after hitting a record high of $30 billion in July.

Preliminary trade data released 10 days ago had pointed to a 3.5 per cent contraction in