NEW DELHI: India posted a trade deficit of $6.77 billion in goods in August, data released by the government showed on Tuesday.
Merchandise imports contracted 26.04pc in August to $29.47 billion from a year ago while exports fell 12.66pc to $22.70 billion, data released by the Ministry of Commerce and Industry showed.
Total merchandise imports fell by 43.73pc to $118.38 billion during April-August while exports were down 26.65pc from the year-ago period to $97.66 billion, the data showed.
Looks HINDUSTAN is doing a great job by effectively contracting his current account deficit.
Actually, if you take HINDUSTHANI Goods-plus-Services combined trade in to account over May-through-September, they have achieved a SURPLUS of more than USD Fourteen Billion !!
— Fu Lijin, Tsingua University, People’s Republic CHINA.