Domestic exports decreased by 2.6 percent to 34.47 billion dollars in September, while imports also saw a decline.

Export Import Data: Imports and exports of the country have decreased. According to government data released on Friday, both the country’s export and import figures have declined on a year-on-year basis. This led to the country’s trade deficit of $19.37 billion in September 2023. According to the data, the country’s trade deficit in August was 24.16 billion dollars.

Know how the import and export figures were.

This year, the country’s exports have decreased by 2.6% to $34.47 billion in September 2023, while India’s total exports in September 2022 were $35.39 billion. India’s imports also fell 15 percent to $53.84 billion in September from $63.37 billion in the same month last year.

During the 6 months of the current fiscal year, domestic imports and exports also decreased.

Exports fell by 8.77% to $211.4 billion during the April-September period in the current financial year 2023-24. While imports have decreased by 12.23% to 326.98 billion dollars in these six months.

What did Commerce Secretary Sunil Birthwal say?

Commerce Secretary Sunil Birthwal said, “Negotiations on a free trade agreement between India and the UK are ongoing and we are working out the differences”.

Increase in gold imports

Gold imports have increased this year and last year saw a decline. Imports fell due to duty imposed on import of gold. Apart from this, the imports of petroleum products, precious stones, silver, coal, coke are also decreasing.

China’s imports and exports declined.

Both China’s exports and imports fell by 6.2 percent in September. China’s imports and exports fell for the fifth consecutive month. This is seen due to weak global demand. China’s exports fell 6.2 percent to $299.13 billion in September. Meanwhile, imports recorded a decline of 6.2 percent and stood at $221.43 billion.

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Free Trade Agreement

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