India’s merchandise exports in August 45.17% higher than a year ago

But trade deficit widens to four-month high driven by a sharp uptick in gold imports

India’s merchandise exports in August touched $33.14 billion, 45.17% higher than a year ago and 27.5% over the pre-pandemic level of August 2019, but the trade deficit widened to a four-month high driven by a sharp uptick in gold imports, as per preliminary estimates released on Thursday. Merchandise imports during the month grew 51.47% year-on-year to $47 billion, which is also 18% higher than August 2019. The trade deficit widened 69.15% year-on-year to touch $13.87 billion but was just 0.07% higher than the pre-COVID level of 2019.