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Exports rise 11.15% in September, trade gap at 30-month low

India's exports grew 11.15 per cent in September and imports declined 18.1 per cent amid a sharp fall in inward shipments of gold and silver, taking the trade deficit to the lowest level in 30 months.

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Exports rise 11.15% in September, trade gap at 30-month low

Exports last month climbed to $27.68 billion, while imports stood at $34.4 billion, narrowing the trade gap to $6.76 billion.

"The trade deficit during the month was the lowest since March 2011.

“The main reason for decline in imports was a dip in imports of gold and oil," Commerce Secretary SR Rao told reporters in New Delhi.

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Exports rise 11.15% in September, trade gap at 30-month low

Imports of gold and silver plunged more than 80 per cent to $0.8 billion in September from $4.6 billion a year earlier.

Oil imports declined by about 6 per cent to $13.19 billion.

During April-September, gold and silver imports rose 8.7 per cent to $23.1 billion.