India’s exports exhibit negative growth of 6.05% in Aug 2019

New Delhi, Sep 14 (KNN) India's exports dropped by 6.05 per cent to $26.13 billion in August 2019 exhibiting a negative growth in the various sectors such as petroleum products, engineering goods, leather and leather products, readymade garments, and gems and jewellery.

Shipments of gems and jewellery, engineering goods, and petroleum products contracted by 3.5 per cent, 9.35 per cent and 10.73 per cent, respectively, according to data released by Ministry of Commerce.

However, the trade deficit in August narrowed to $13.45 billion from $17.92 billion in August 2018 as the fall in imports during the month was much steeper at 13.45 per cent to $39.58 billion compared to the same month last year.

The fall in imports was sharpest for sectors including gold, petroleum, coal, chemicals and machinery.

Out of 30 key sectors, as many as 22 showed negative growth in August.

The sectors which recorded positive growth in the last month include iron ore, electronic goods, spices, and marine products.

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