Merchandise exports contracted 2.15 per cent to $27.95 billion in September, the first time exports fell this fiscal. However, analysts said the decline was because of a base effect, and pointed out that trade deficit was the lowest this month in five months despite higher crude prices. The trade deficit, or the gap between imports and exports, was estimated at $13.98 billion during September 2018. Exports were on the rise since April, after declining by 0.66 per cent in March 2018. He said he remained bullish on exports in the short- to medium-term basis.

Source: The Telegraph October 15, 2018 19:07 UTC