India's Trade Deficit Widens as Exports Fall
India's Trade Deficit Widens as Exports Fall
India's Trade Deficit Widens as Exports Fall
News summary

India's merchandise exports fell 9.3% in August to USD 34.71 billion, while imports rose 3.3% to USD 64.36 billion, resulting in a widened trade deficit of USD 29.65 billion. In contrast, Indonesia's exports increased by 7.13% to USD 23.56 billion, surpassing forecasts, though import data was pending. Meanwhile, Singapore reported a 10.7% rise in non-oil domestic exports (NODX) for August, driven primarily by a robust 35.1% increase in electronics shipments, marking the fastest growth since 2010. However, this growth was slower than the previous month’s 15.7% expansion. Notably, shipments to key markets like Hong Kong and China saw significant increases, contributing to Singapore's overall trade growth despite a month-on-month decline in exports. The contrasting trade trends highlight varying regional economic conditions and demand dynamics.

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