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India's exports shrink for ninth straight month, fall 20.7% y/y in Aug

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India's merchandise exports contracted for the ninth straight month in August, government data showed on Tuesday, marking a 20.66 per cent drop year-on-year because of continuing weak global demand.

[NEW DELHI] India's merchandise exports contracted for the ninth straight month in August, government data showed on Tuesday, marking a 20.66 per cent drop year-on-year because of continuing weak global demand.

The trade deficit marginally narrowed to $12.5 billion last month from US$12.8 billion in July, the data released by the Ministry of Commerce and Industry showed.

Imports fell 9.95 per cent from a year earlier to US$33.74 billion in August, while exports stood at $21.27 billion, the data showed.

REUTERS