India: Merchandise exports decline in August
Latest reading: Merchandise exports decreased 9.3% in annual terms in August (July: -1.8% yoy). August’s result marked the largest fall since July 2023. Meanwhile, merchandise imports expanded 3.3% on an annual basis in August (July: +7.4% yoy), marking the weakest result since March 2024.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 29.7 billion shortfall in August (July 2024: USD 23.6 billion deficit; August 2023: USD 24.0 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 258.7 billion deficit in August, compared to the USD 253.0 billion deficit in July.