New Delhi, Sept 16 (KNN) Following the slower rate of exports in the month of July, the figure picked up in August at 10.3 per cent, Data from Ministry of Commerce and Industry revealed.

The data suggest that the exports growth stood at 23.8 billion dollars in August. This new figure comes as a relief to the slow paced growth in the previous month that stood at an eight month low in July.

Sectors including spices, drugs, leather, engineering goods and textile registered good numbers making the overall handsome figure.

The data from the Ministry further informed that while the export maintained a positive figure, the imports out-valued exports, growing at 21 per cent increasing the existing trade deficit to 11.6 billion dollars.

The data of the import last year during the period stood at 7.7 billion dollars.

Comparing the deficit data with the previous month, cumulative trade deficit in June rose to 40 billion dollars, to which experts expected that the current account deficit might rise to 15 billion dollars in the first quarter of FY18.

With regard to imports, electronic goods, precious metals fuels including oil and coal, and stones, iron and steel, and machinery registered high volumes, the data observed. (With PIB Inputs)