India's August Merchandise Exports Slump to over 12%

New Delhi: India's merchandise exports in August slumped to over 12 per cent on a year-on-year basis, official data showed on Tuesday.

Accordingly, the country shipped out merchandise worth $22.70 billion from $25.99 billion exported during the like period of the previous year.

The data showed that contraction caused by the Covid-19 pandemic widened during August at (-)12.66 per cent from (-)10.12 per cent in July and (-)12.41 per cent in June.

In terms of sequential movement, the country's merchandise exports in July stood at $23.64 billion.