Key insights
- India's trade deficit narrowed in March due to increased exports and decreased imports. Concerns remain about the potential impact of the Iran war on exports to Gulf countries and rising energy import costs. This could have a slight negative impact on US equities due to global economic uncertainty.
Investing.com -- India’s merchandise trade deficit narrowed to $20.98 billion in March, according to government data released on Wednesday, coming in below economist expectations.
The deficit was smaller than the $32.75 billion forecast by economists polled by Reuters and marked a decrease from February’s $27.1 billion deficit.
Merchandise exports rose to $38.92 billion in March from $36.61 billion in February, while imports declined to $59.9 billion from $63.71 billion, the data showed.
The trade figures come amid concerns that the Iran war could affect exports to Gulf countries and increase costs for energy and other imports.
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