By Shivangi Acharya
NEW DELHI – India’s merchandise trade deficit was smaller than expected in September, helped by a sharp sequential decline. gold importAccording to government data released on Wednesday.
The goods trade deficit last month was $20.78 billion, less than economists’ expectations of $25 billion. reuters poll,
In August the deficit had increased to a ten-month high of $29.65 billion.
goods export It declined from $34.71 billion in August to $34.58 billion in September. The decline in imports was sharp, from $64.36 billion to $55.36 billion.
Gold imports in September were $4.39 billion, which is much less than $10.06 billion in August.
“Last month’s gold imports were a one-off, driven by higher buying to build inventory ahead of festivals and favorable prices,” one said. trade ministry officialsWho did not want to reveal his name.
Services exports last month were estimated at $30.61 billion, while imports stood at $16.32 billion.
In August, services exports were $30.69 billion and imports were $15.70 billion.
(Reporting by Shivangi Acharya; Editing by Mrigank Dhaniwala and Janane Venkatraman)
