INDIA's trade deficit in July was the biggest in five years as inbound shipments of oil stood at US$12
INDIA's trade deficit in July was the biggest in five years as inbound shipments of oil stood at US$12.4 billion, up 57.4 per cent year on year and gold imports soared 41 per cent to $2.96 billion while exports surged 14 per cent to $25.8 billion. The last time trade deficit was wider was in May 2013 at $19.1 billion, according to data compiled by Bloomberg.
Commerce Ministry data showed retail inflation was up 4.17 per cent in July, slower than the 4.5 per cent median estimate in a Bloomberg survey of economists.
India's current account gap has come under pressure and is expected to widen to 2.4 per cent of GDP in the financial year to March 2019, from 1.9 per cent in the October-December period.
