Exports drop 6% to $26.13 bn in August; trade deficit narrows to $13.45 bn

Oil imports declined by 8.9 per cent to $10.88 billion, and non-oil imports fell by 15 per cent to $28.71 billion

India's exports dropped by 6.05 per cent to $26.13 billion in August mainly on account of significant dip in shipments from key sectors such as petroleum, engineering, leather, and gems & jewellery.

Imports too declined by 13.45 per cent to $39.58 billion, narrowing trade deficit to $13.45 billion in August, according to the government data released on Friday.

The imports during the month slipped the most after August 2016, when it had contracted by 14 per cent.

The trade deficit stood at $17.92 billion in August 2018.

Out of 30 key sectors, as many as 22 showed negative growth in August. Shipments of gems