India’s trade deficit narrows to $13.45 bn in August

India’s trade deficit in August narrowed to $13.45 billion from $17.92 billion a year ago, the trade ministry said in a statement on Friday, helped by lower oil import bill.

Oil imports fell 8.90% to $10.88 billion in August from $11.94 billion in a year-ago period.

Merchandise exports fell 6.05% to $26.13 billion in August compared with a year earlier, while imports were down 13.45% at $39.45 billion, the data showed.