The value of India’s imports fell 18.1 percent year-over-year in September 2013, according to India’s Ministry of Commerce. Import value fell to its lowest level since March 2011. The trade deficit shrank more than 60 percent from last September to $6.8 billion, which was also the country’s lowest deficit since March 2011.
Indian exports were valued at $27.7 billion in September 2013, up from $24.9 billion a year ago, and up 5.9 percent from August 2013. This was the third straight month of double-digit year-over-year increases. Through September, exports were valued at $234.3 billion, 4.8 percent higher year-over-year.
India’s imports tumbled to $34.4 billion in September, down from $42.1 billion in September 2012. Imports also fell 7.1 percent month-to-month. For the January-September 2013 period, imports were valued at $359.7 billion, 0.2 percent lower than they were during the same period in 2012.