September 14, 2018 / 1:31 PM / a year ago

India's August trade deficit narrows to $17.4 billion

FILE PHOTO - A fisherman prepares to cast his fishing net in the waters of the Vembanad lake as a container ship is seen docked in the background, at a port in Vallarpadam, Kochi February 11, 2014. REUTERS/Sivaram/File Photo

NEW DELHI (Reuters) - India’s trade deficit narrowed to $17.4 billion in August from a five year high of $18.02 billion hit in July, the trade ministry said on Friday, helped by a pick up in exports after a fall in the rupee.

In August, merchandise exports rose 19.21 percent from a year earlier to $27.84 billion, after a gain of 14.32 percent in July.

Imports grew 25.41 percent last month to $45.24 billion due to higher oil imports, which rose 51.62 percent to $11.83 billion from a year earlier.

Reporting by Manoj Kumar, Editing by Alasdair Pal

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