September exports repeat decline, contract by 6.5% to reach 3-month low

As imports also fall for 4th straight month, trade deficit reduces to 7-month low

Exports in September contracted for the third time in the first six months of the current fiscal year, with trade decline plaguing all major foreign exchange (forex) earners such as processed crude oil, gems and jewellery, and engineering goods.

Outbound trade dropped 6.57 per cent in September, falling to a three-month low. However, policymakers are equally worried about falling imports, which contracted for the fourth straight month in September by 13.85 per cent, showing low demand for both consumer and industrial items — a hallmark of slowdown. As a result, merchandise trade deficit fell to $10.86 billion in September, a