Trade Deficit narrows

The trade deficit fell to a 30-month low in September to $6.7 billion bringing much-needed relief to the Government fighting a falling rupee.
Exports increased 11.15 per cent during the month to $27.64 billion compared to the same month in the previous year, while imports fell sharply by 18.10 per cent to $34.43 billion. Imports declined primarily due to a fall in crude oil and gold inflow.
Exports have continued  to move on the double-digit growth path for the third consecutive month.“
Engineering exports, which had not been performing well even as exports were rising in the previous months too, posted a 15.22 per cent growth to $5.2 billion in September.
Gold imports fell 82 per cent in September to $0.8 billion, compared to $4.5 billion in September last year.
Oil imports during September fell 5.94 per cent to $13.19 billion, while non-oil imports declined 4.55 per cent to $149.35 billion.
Cumulative exports during the first six months of fiscal 2013-14 posted a growth of 5.14 per cent at $152.05 billion. Imports during the period fell 1.8 per cent to $232.23 billion.
The trade deficit in the first half of the current fiscal was $80.12 billion, which was lower than the deficit of $91.81 billion in the first half of the last fiscal.