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Exports growth hits 5-month low in Aug; trade gap widens

Gold imports nearly tripled to $2.03 billion in August from $738.7 million a year ago.

By: ENS Economic Bureau | New Delhi | Published: September 16, 2014 12:58:54 am

India’s export growth slipped to 5-month low of 2.35 per cent in August at $26.95 billion, pushing up the trade deficit to a four-month high of $10.83 billion.

Gold imports nearly tripled to $2.03 billion in August from $738.7 million a year ago. However, imports of petroleum, transport equipment, fertiliser, coal and silver registered decline in growth.

According to commerce ministry data, overall imports grew only 2.08 per cent to $37.79 billion. Oil imports fell by 14.97 per cent in August to $12.83 billion, but non-oil imports (including capital goods), during the month, rose by 13.82 per cent to $24.95 billion. Overall imports in August grew by just 2.08 per cent to $37.79 billion. With PTI

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