India’s April merchandise and services trade deficit at 21-month low

India has reduced its merchandise and services trade deficit to a 21-month low in April due to a drop in importation, partially caused by decreasing demand for certain items and oil across the Asian economy. The merchandise and services trade deficit was at $1.38bn, less than the previous year’s $8.37bn, with the merchandise trade deficit set at $15.24bn compared with last year’s $13.72bn.

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