Trade deficit at all-time high of $23 bn in Sept on festive season imports

Export growth halves to 23%, imports soar by 85%; repercussions likely on current account balance which is set to hit a deficit in Q2 against surplus in first quarter of current fiscal

The trade deficit jumped to a record high of $22.59 billion in September against $13.3 billion in the previous month due to huge imports of goods ahead of the festival season and the hardening of commodity prices.
 
This may have an impact on the current account balance, which is set to give way to a deficit at least in the second quarter against a surplus in the first quarter this fiscal year.
 
The trade deficit rose because merchandise exports growth moderated to 22.6 per cent in September against 45.6 per cent in August and goods imports expanded by