India’s merchandise trade deficit stood at $27.98 bn in August

Chennai, Sep 14 : Indias merchandise trade deficit went up to $27.98 billion in August, up from $11.

71 billion for the same month in 2021.Simply put, trade deficit is a situation in which the value of goods a country imports is greater than the value of goods it exports -- excluding software, remittances and others.For the period under review, merchandise imports stood at $61.90 billion ($45.09 billion in August 2021), while exports were at $33.92 ($33.38 billion).The overall trade deficit shot up to $18.37 billion from $3.13 in August 2021, said the Ministry of Commerce and Industry.Indias overall exports (merchandise and services combined) in August are estimated to be $57.47 billion, exhibiting a positive growth of 6.75 per cent over the same period last year.Overall imports in August 2022 are estimated to be $75.84 billion, recording a positive growth of 33.15 per cent over the same period last year.Indias overall exports (merchandise and services combined) in April-August are estimated to be $311.82 billion, exhibiting a positive growth of 19.72 per cent over the same period last year.Overall imports in April-August 2022 are estimated to be $390.91 billion, recording a positive growth of 43.78 per cent over the same period last year.vj/arm #Indias #merchandise #trade #deficit #stood #August #Chennai #Tamil #Kollywood #Chennai #Review.