Why in the news ?
- As exports contracted for the first time in as many months, India’s trade deficit shrank to its lowest in five months in September, at $13.98 billion.
More in the news
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The data from the government’s mid-year assessment of India’s trade shows that merchandise exports registered a growth of 19.93% in rupee terms and 12.54% in U.S. dollar terms.
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Merchandise trade deficit is $13.98 billion in September 2018, lowest in last five months, despite high oil prices.
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Merchandise exports in September 2018 exhibited a positive growth of 9.65% in rupee terms.
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Imports in April-September 2018 exhibited a positive growth of 16.16% in U.S. dollar terms.
Growth in sectors
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During September, the major commodity groups that saw a strong export growth included :Petroleum products (26.8%)Organic and inorganic chemicals (16.9%)Drugs and pharmaceuticals (3.8%)Cotton yarn/fabs./made-ups, handloom products, etc. (3.6%)Plastic and linoleum (28.2%) in dollar terms.
Source
The Hindu.