India’s Trade Deficit Narrows to 7-month Low of $8.98 billion in September

Representative image (Image: Reuters)

New Delhi: India’s trade deficit narrowed to $8.98 billion in September, its lowest in seven months, government data showed on Friday.

The deficit was $11.64 billion in August.

Merchandise exports for September rose 25.67 percent from a year ago to $28.61 billion, mainly driven by a rise in export of engineering and oil products.

Goods imports last month were $37.6 billion, a gain of 18.09 percent from the same period last year, data from the commerce and industry ministry showed.