September exports plunge 24.3% on weak global demand

Merchandise exports shrank nearly a quarter in September from a year ago, government data showed on Thursday, on weak global demand.

The trade deficit narrowed to $10.48 billion last month from $12.5 billion in August mainly on lower gold and oil imports, the data released by the Ministry of Commerce and Industry showed.

Imports fell 25.42 per cent from a year earlier to $32.32 billion, while exports stood at $21.84 billion, the data showed.

(Reuters)