Trade deficit close to all-time high, thanks to record imports

India's trade deficit nearly reached a record high in August with total imports rising to $64.4 billion due to a surge in gold shipments, while exports fell to $34.7 billion. Commerce Secretary Sunil Barthwal attributed this increase to higher prices and festival season stocking, considering these figures normal for an emerging market economy.

Sep 18, 2024 - 03:30
Trade deficit close to all-time high, thanks to record imports

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India's trade deficit nearly reached a record high in August with total imports rising to $64.4 billion due to a surge in gold shipments, while exports fell to $34.7 billion. Commerce Secretary Sunil Barthwal attributed this increase to higher prices and festival season stocking, considering these figures normal for an emerging market economy.
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