India's trade deficit narrows to $26.86 bn in August as gold imports plunge

India’s merchandise trade deficit narrowed marginally to $26.86 billion in August from $27.2 billion a year earlier, as imports, particularly of gold, fell sharply to make up for a slip in exports from the previous month.

India’s merchandise exports rose 26.1% year-on-year to $43.81 billion in August, highest for the month in at least a decade, while imports grew 14.1% to $70.76 billion.