India trade deficit at $17.4 bn as exports rise 19.21% in Aug
India's exports grew 19.21% to $27.84 billion in August due to a healthy performance by sectors such as petroleum, narrowing trade deficit to $17.4 billion. Merchandise imports also rose 25.41% to $45.24 billion last month due to rising crude oil prices. The trade deficit is the amount by which the cost of a country's imports exceeds the value of exports.