Trade deficit narrows to $20.78 billion in September

Export data: India's merchandise trade deficit for September was recorded at $20.78 billion, a figure that is narrower than economists' expectations of $25 billion, as per calculations based on government data released on Wednesday.This marks a significant improvement from August's trade deficit that hit a ten-month high at $29.65 billion.Latest figures indicate that the merchandise exports during September stood at $34.58 billion, while imports were at $55.36 billion, however the exports for August are reported at $34.71 billion with imports at $64.36 billion.The services sector also remained firm during September where export estimates were found to be high at $30.61 billion against import estimates at $16.32 billion. For August, however, the estimated services export was slightly higher at $30.69 billion but the imports remained at $15.70 billion.This would mean that the narrowing of the trade deficit in September marks a possible stabilisation of India's trade dynamics, reflecting the series of adjustments both in the export sector and the import sector.

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Trade deficit narrows to $20.78 billion in September

This marks a significant improvement from August's trade deficit that hit a ten-month high at $29.65 billion.

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