New Delhi: The trade deficit of country eased from record levels in August. The trade deficit stood at $28.68 billion in August. It was at $30 billion in July. Trade deficit is the difference between imports and exports of the country.
According to the data released by the Union Commerce ministry, merchandise exports hit $33 billion in August. It was down by 1.1% from a year before. The exports are expected to cross $450 billion by end of the current financial year. Imports surged 36.8% in August to $61.7 billion, against 43.6% in the previous month. Between April – August this year, the country’s export stood at $192.59 billion registering a growth of 17.12%. Imports came in at $317.81 billion skyrocketing by 45.64%.