Exports rise at fastest pace in 3 months in August

The country’s exports rose at the fastest pace in three months to reach 27.84 billion US dollars in August on account of healthy growth in petroleum products, engineering, pharma, and gems and jewellery shipments.
According to the data released by the Commerce Ministry, the growth rate in overseas shipments touched a three-month high of 19.21 per cent. Earlier in May, exports had recorded a growth of 20.18 per cent.
Imports too grew by 25.41 per cent to 45.24 billion dollars in August due to costlier crude oil shipments.
Trade deficit during the month narrowed to 17.4 billion dollars as against 12.72 billion dollars in the same month last year.

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