Aug export growth slows to 2.35%
16/09/2014 12:38
India’s exports grew at the slowest pace in five months in August 2014 as weakness in the 18-member Euro area economy crimped demand, clouding the outlook for Asia’s third biggest economy, which grew at the sharpest clip in more than two years last quarter.
Overseas shipments climbed by 2.35 per cent in August 2014 from the same month a year ago, data from the Ministry of Commerce & Industry showed on Monday.
In July 2014, the country’s exports grew by 7.33 per cent, year on year.
However, the trade shortfall narrowed to the lowest in three months as oil imports tumbled amid a dip in global oil prices while a rise in non-oil imports signaled a pickup in demand in the economy.
India posted a trade deficit of USD 10.7 billion in August 2014, compared to USD 12.2 billion in July 2014.
Imports climbed by 2.08 per cent in August 2014 from the same month a year ago as non-oil, non-gold imports surged by 8 per cent.
Oil imports tumbled by nearly 15 per cent in August 2014 as the benchmark Brent Crude averaged around USD 100 per barrel in August, compared to USD 114 per barrel in the year ago month.
16/09/2014 12:38
India’s exports grew at the slowest pace in five months in August 2014 as weakness in the 18-member Euro area economy crimped demand, clouding the outlook for Asia’s third biggest economy, which grew at the sharpest clip in more than two years last quarter.
Overseas shipments climbed by 2.35 per cent in August 2014 from the same month a year ago, data from the Ministry of Commerce & Industry showed on Monday.
In July 2014, the country’s exports grew by 7.33 per cent, year on year.
However, the trade shortfall narrowed to the lowest in three months as oil imports tumbled amid a dip in global oil prices while a rise in non-oil imports signaled a pickup in demand in the economy.
India posted a trade deficit of USD 10.7 billion in August 2014, compared to USD 12.2 billion in July 2014.
Imports climbed by 2.08 per cent in August 2014 from the same month a year ago as non-oil, non-gold imports surged by 8 per cent.
Oil imports tumbled by nearly 15 per cent in August 2014 as the benchmark Brent Crude averaged around USD 100 per barrel in August, compared to USD 114 per barrel in the year ago month.
