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Exports up 45.17% to $33.14 bn in August, trade deficit at $13.87 bn – Mint

India’s merchandise exports rose for the ninth straight month in August to $33.14 billion, an increase of 45.17% over $22.83 billion in August 2020 and an increase of 27.5% over $25.99 billion in August 2019, a provisional trade data released by the Ministry of Commerce & Industry showed on Thursday.

The exports during April-August this year was at $163.67 billion, an increase of 66.92% over $98.05 billion in the same period a year ago and an increase of 22.93% over $133.14 billion in April-August 2019, Commerce Secretary BVR Subrahmanyam said.

Imports in August rose 51.47% to $47.01 billion, as against $31.03 billion in the corresponding month of 2020.

Imports during April-August this financial year rose by 81.75% to $219.54 billion.

The trade deficit in August 2021 was $13.87 billion, compared to $8.2 billion in the year-ago period.

Subrahmanyam also said the country saw $164 billion in exports in five months of FY22 (April-August). He also said that India is very confident of reaching the export target of $400 billion this year.

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