India's exports decline 9.3% to USD 34.71 bn in Aug

New Delhi: India's merchandise exports in August declined 9.3 per cent to USD 34.71 billion from USD 38.28 billion in the year-ago month, according to government data released on Tuesday.

Imports increased by 3.3 per cent to USD 64.36 billion in August against USD 62.3 billion a year ago.

The trade deficit, or the gap between imports and exports, during the month under review ballooned to USD 29.65 billion.

India's merchandise exports dipped by 1.5 per cent in July.

Exports during April-August this fiscal increased 1.14 per cent to USD 178.68 billion, and imports grew 7 per cent to USD 295.32 billion.