India's trade deficit narrows in August 2013 to US$ 10.90 billion

India's trade deficit narrowed in August 2013 to US$ 10.90 billion as compared to US$ 12.27 billion in July 2013. The trade deficit for the period April - August in FY2014 was lower at US$ 73.37 billion as against US$ 74.67 billion during the period April - August in FY2013.

India's Exports continued to rise expanding by 13% YoY in August, faster than 11.6% YoY rise in July. The exports in August 2013 were at US$ 26.14 billion as against US$ 23.13 billion in July 2013.

India's Imports contracted by 0.68% YoY in August, as against 6.2% YoY decline in July. The Gold imports fell to US$ 0.65 billion as against US$ 2.20 billion in July 2913 after the Government announced slew of regulatory measures recently.

India's Oil imports were higher at US$ 15.1 billion in August 2013 as compared to US$ 12.71 billion in July 2013. The higher oil import bill in August is due to higher international oil prices and a recovery in refinery crude throughput. The refineries in India have imported more Oil as the demand for export of finished petroleum products saw a revival.

Source : Equity Bulls

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