Exports up 19.21% in Aug, imports up 25.41%; trade deficit at $17.4 bn

India's exports grew by 19.21 per cent to $27.84 billion in August on account of healthy performance by sectors such as petroleum.

"Export trade during August 2018 recorded at $27.84 billion, a positive growth of 19.21 per cent. Exports excluding Petroleum also reported a positive growth of 17.43 per cent," Commerce and Industry Minister Suresh Prabhu said in a tweet.

Merchandise imports too rose by 25.41 per cent in August to $45.24 billion due to the rising crude oil prices, leaving a trade deficit of $17.4 billion.

In July, trade deficit soared to a near five-year high of $18.02 billion.

During April-August this fiscal, the exports recorded a growth of 16.13 per cent, while the imports during the first five months of this fiscal grew by 17.34 per cent.

(PTI)