Trade deficit narrows to 7-month low of $8.98 bn in Sept; exports rise 26%

The deficit was $11.64 billion in August

Exports grew at a six-month-high rate of 25.7 per cent in September year-on-year, maintaining the momentum of 13 months of interrupted rise and despite the problems of getting refunds under the goods and services tax (GST) regime.

This was the second month of exports expanding in double digits after outbound shipments were up 10.29 per cent in August.

The pace of export growth comes after they contracted for more than a year. The country exported goods worth $28.61 billion in September against $22.76 billion in the same month last year.

In the third month into the GST, export growth picked up mainly owing