Trade deficit narrows in August

Kochi Port
Imports grew 25.41 per cent last month to $45.24 billion due to higher oil imports: Photo | Reuters
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New Delhi: India's trade deficit narrowed to $17.4 billion in August from a five year high of $18.02 billion in July, the trade ministry said on Friday, helped by a pick up in exports after a fall in the rupee.

In August, merchandise exports rose 19.21 per cent from a year earlier to $27.84 billion, after a gain of 14.32 per cent in July.

Imports grew 25.41 per cent last month to $45.24 billion due to higher oil imports, which rose 51.62 per cent to $11.83 billion from a year earlier.

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