Imports also fell 11.53 per cent to $33.6 billion (year-on-year) in October 2020
Decline in imports indicates weak demand; recovery may be uneven
The trade deficit in September was $2.72 billion, compared to $11.67 billion in the year-ago month
Exports to China saw sustained double-digit growth for the fourth straight month in August, led by eightfold rise in iron and steel shipments
The US trade deficit rose in August to the highest level in 14 years
Development marks yet another sign of revival as imports continue to decline, albeit at a slower pace, trade deficit shrinks
Total merchandise imports fell by 40.06% to $148.69 billion during April-August while exports were down 21.43% from the year-ago period to $125.06 billion, the data showed
Import contraction restricted to 26 per cent in August due to surge in gold purchases from abroad
During the April-August period, exports declined by 26.65 per cent to $97.66 billion, while imports fell 43.73 per cent to $118.38 billion
Oil imports declined by 31.97 per cent to $6.53 billion in the month under review. Gold imports grew by 4.17 per cent to $1.8 billion
India's trade deficit with China is on a downward trajectory, and hit a 5-year low in FY20 due to lower imports and higher exports, but trade deficit with Hong Kong continues to rise.
The trade deficit contraction estimate has been made for FY22, assuming for a fourth of the items in the 40 specified sectors being sourced locally, Acuite Ratings and Research said.
From toys and plastic goods to sports items, and furniture - goods worth $127 billion - could be placed under restrictions
Imports from the northern neighbour have been on the wane since 2017-18 when it had peaked to $76 bn.
Apart from the fact that a $20 billion trade deficit is nothing to get worked up about, if proper accounting were done this could become less
While imports contracted by 0.7 per cent, the rate of fall was significantly lower than the 8.9 per cent contraction in inbound trade seen in December
The Commerce Department said on Tuesday the trade deficit decreased 8.2% to $43.1 billion, the smallest since October 2016
Oil imports fell 31.74 per cent to $9.63 billion in October from $14.11 billion in the year-ago period
Deadline set to be extended by a few months
As imports also fall for 4th straight month, trade deficit reduces to 7-month low