Indian economy faces the worst blow in August

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Indian economy faces the worst blow in August

NEW DELHI: India posted a trade deficit of $6.77 billion in goods in August, data released by the government showed on Tuesday.

Merchandise imports contracted 26.04pc in August to $29.47 billion from a year ago while exports fell 12.66pc to $22.70 billion, data released by the Ministry of Commerce and Industry showed.

Total merchandise imports fell by 43.73pc to $118.38 billion during April-August while exports were down 26.65pc from the year-ago period to $97.66 billion, the data showed.