India trade deficit narrows on lower gold imports
India reported an unexpected narrowing of its goods trade deficit in August to 26.86 billion dollars. A sharp drop in gold imports helped offset lower export levels during the month.
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India's goods trade deficit narrowed unexpectedly to $26.86 billion in August as Gold imports halved. Economists surveyed by Reuters had anticipated a deficit of $32 billion for the month. The sharper-than-expected contraction offers temporary relief to the domestic economy amid rising import bills.
