External Trade - Signs of improvement :: Edelweiss, PDF link

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Trade deficit in April narrowed to USD13.5bn compared with average of ~USD15.5bn in previous six months, largely reflecting easing oil and gold imports. Indeed, non-oil trade deficit has shown a mild surplus in past two months on account of easing non-oil imports. In the coming months, softening crude prices and falling gold demand, along with undervalued exchange rate should have a favourable effect on trade deficit. However, subdued external demand will continue to be a drag.

External Trade - Signs of improvement

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