India’s trade deficit in September narrowed to lowest in the last five months since the imports growth slowed even as exports fell marginally during the month. September trade deficit fell to $13.98 billion, according to the data released by the Ministry of Commerce and Industry. The overall trade deficit stood at $94.32 billion in the first six months – April to September – of the current financial year 2018-19. “The decline in the merchandise trade deficit to $14 billion in September 2018 from $17-18 billion in the previous three months has been driven by seasonal factors. This might come as a temporary relief to the government struggling to keep current account deficit in check, in the wake of mounting crude oil prices and a rapid fall in rupee. Despite the overall decline in exports during the month, chemicals, petroleum products, drugs & pharmaceuticals, handloom products, cotton yarn & fabric and plastic recorded an increase in exports.

(Financial Express)