Trade deficit rises to $14.25 bn in Sept on gold imports

Exports grew 2.73 percent at USD 28.90 billion (YoY), while imports jumped 25.96 percent at USD 43.15 billion (YoY).

The trade deficit for the month of September widened to USD 14.25 billion versus USD 10.84 million month-on-month. Exports grew 2.73 percent at USD 28.90 billion (YoY), while imports jumped 25.96 percent at USD 43.15 billion (YoY).

Gold and non-oil imports seem to be the culprit, with gold imports at USD 3.75 billion versus USD 2.04 billion (MoM) and non-oil imports rising 36.2 percent at USD 28.65 billion (YoY). Oil imports rose 9.7 percent at USD 14.50 billion (YoY).

For the April-September period, exports stood at USD 163.70 billion versus USD 153.75 billion (YoY), while imports stood at USD 234.10 billion versus USD 230.48 billion (YoY). The trade deficit for the same period stood at USD 70.4 billion versus USD 76.72 billion (YoY).

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