India's trade deficit widens 139% to $27.98 billion in August

India's trade deficit in August widened by 139 per cent to $27.98 billion from $11.71 billion recorded during the corresponding period of last year.

According to Commerce Ministry data, India's merchandise exports went up by 1.62 per cent to $33.92 billion in August 2022 against $33.38 billion recorded in the corresponding period of last year.

Imports rose by 37.28 per cent on year-on-year basis, thus widening the trade deficit.

Meanwhile the country's overall exports (including merchandise and services) in August 2022 stood at $57.47 billion, showing a growth of 6.75 per cent over the corresponding period.

Overall imports in August 2022 were estimated to be $75.84 billion, showing a growth of 33.15 per cent over corresponding period of last year.