India’s merchandise exports growth grew a marginal 0.5% annually to $34.58 billion in September on a weak base (-2.8%). But trade deficit fell to the lowest level in five months at $20.78 billion, as import growth too was modest at 1.6%. The trade deficit had jumped to its highest in 10 months to $29.6 billion in August, as exports shrank by a steep 9.3% on year. Reason the imports were contained at $55.36 billion in September was the sharp fall in gold and oil imports in the month as compared to August. In September gold imports were $4.3 billion as against $10.06 billion in the previous month.