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Exports Fall
Why is it in news?
- According to government data, India’s exports slipped 12.7% to $22.7 billion in August 2020.
- The export has contracted for the sixth straight month.
Details:
- The decline in exports is on account of decline in the shipments of petroleum, leather, engineering goods and gems and jewellery items.
- India's merchandise imports also declined 26% to $29.47 billion in August.
- It lead to the trade deficit of $6.77 billion, compared with a $13.86 billion deficit a year earlier.