NEW DELHI: India’s goods trade deficit narrowed to $30.2 billion in Sept, from $33 billion a year ago, as exports grew 23% to $44.4 billion, while imports rose 8% to $74.6 billion.On a cumulative basis too, the trade deficit for goods and services narrowed to $13.3 billion in Sept, improving from $14.2 billion a year ago, as growth in exports outpaced the imports growth during the month. Data released by the commerce department Thursday showed that exports stood at $80.8 billion, while monthly imports remained at $94 billion for the month.Sept marked the second straight month of over 20% export growth, powered by a surge in shipments of electronics (70% jump to $5.3 billion, engineering goods (21% to over $12 billion) and petroleum products (32% to $6.2 billion). Exports are maintaining their growth trend, said commerce secretary Rajesh Agarwal.On the import front, gold and fertiliser provided much-needed relief, partly due to cooling global prices. Fertiliser imports fell 22.2% to $1.8 billion, while high duties took the sheen off yellow metal shipments, at least through the official channels, with imports falling 81% to $1.8 billion. Silver too fell 49% to 665 million.There was no respite from high electronic imports, which jumped 51.5% to almost $15 billion, while high oil prices meant crude shipments were 31% higher at $18.3 billion.Countries like Singapore, the US, and Malaysia recorded strong positive growth as top monthly export destinations.Trade with China rose about 29%to $91.8 billion in April-Sept, making Beijing the largest trading partner in the first half, with the US ranked second. Exports to China rose 36% to $11 billion, while imports grew 27.8%to 80.3 billion.
