India's Trade Deficit Widened Sharply in September

By Maria Martinez

 

India's trade deficit widened significantly in September compared with the same month of the previous year, government data showed Thursday.

The trade deficit for September stood at $22.59 billion compared with a $2.96 billion deficit in September 2020.

Exports increased 22.63% from a year earlier to $33.79 billion in September, after a 45.76% increase in August. Imports rose 84.77% to $56.39 billion, after August's 51.72% rise.

India, Asia's third-largest economy, has been running a significant trade deficit for more than 15 years. The growth of exports in recent years has been offset by increased imports, mostly of energy and electronic goods.

 

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