India's merchandise exports grew a modest 2.35% in August, the slowest rate in five months, the Trade Ministry said Monday, raising uncertainty about the strength of the country's economic rebound.
The lackluster trade data came on the heels of slower industrial-output growth numbers reported last week. Hurt by a contraction in manufacturing, industrial production was up just 0.5% in July from a year earlier.
August exports totaled $26.95 billion, the Trade Ministry said. Imports rose 2.08% to $37.79 billion. The trade deficit was $10.83 billion, narrower than July's $12.22 billion.
Export growth seems to be gradually cooling off. Exports were up 5.2% in April, 12.4% in May, 10.22% in June and 7.33% in July.
August's sharp deceleration was driven by a decline in the export of goods such as gems and jewelry and petroleum products.India's economy grew 5.7% in the April-June quarter, its fastest pace in more than two years.
Source:- online.wsj.com
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