While imports contracted by 0.7 per cent, the rate of fall was significantly lower than the 8.9 per cent contraction in inbound trade seen in December
The Commerce Department said on Tuesday the trade deficit decreased 8.2% to $43.1 billion, the smallest since October 2016
Oil imports fell 31.74 per cent to $9.63 billion in October from $14.11 billion in the year-ago period
Deadline set to be extended by a few months
As imports also fall for 4th straight month, trade deficit reduces to 7-month low
The current account deficit is likely to decline substantially to $10-11 billion in the second quarter
Exports of employment-intensive leather and products saw a fall of 3.7%
Oil imports declined 22.15% to $9.6 billion
Imports too declined by 9 per cent to $40.29 billion in June 2019 against $44.3 billion in June 2018 mainly due to falling prices of petroleum products
Exports recover to 3.9% in May, up from 0.64% in April
Imports rise by 4.31 per cent to $45.35 billion, widening the trade deficit to $15.36 billion in May.
Oil imports grew by 9.26% to $11.38 billion and non-oil imports expanded by 2.78%
But credit largely goes to petroleum and gems & jewellery, as share of core exports remains stagnant
March exports return to growth charts after a four-month drag
Trade deficit was $13.51 billion in March 2018
A report by CARE Ratings shows that the gap between exports and imports is the highest since 2012-13 when it peaked to $190 billion
The largest component of the import bill, crude oil, saw inbound shipments declined by 8 per cent, up from the 3.59 per cent fall in the previous month
Imports declined by 5.4 per cent to $36.26 billion in the last month, narrowing the trade deficit to $9.6 billion
Imports almost remained flat at $41 billion during the last month, narrowing the trade deficit to $14.73 billion
Some gains likely from US-China tariff war, with exports to China rising; softening of inward FDI remains a worry