The US export to India in both goods and services has increased this year, resulting in substantial drop in trade deficit as compared with the last year, according to the latest official figures.
As per the figures available with the US Department of Commerce's Bureau of Census, in the first six months of this year, America's export to India in merchandise increased by 28.42 per cent from USD 12.1 billion to USD 15.5 billion.
During the same period, India's export to the US in goods increased by 13.11 per cent from USD 23.6 billion in 2017 to USD 26.8 billion.
The total bilateral trade in the first six months of the year increased by 18.4 per cent from USD 35.7 billion in 2017 to USD 42.36 billion in 2018. The trade deficit in goods registered a decline of 2.54 per cent, according to the figures.
The bilateral trade figures in the services sector for the first six months are yet to be revealed.
However, in the first quarter of 2018, the deficit in bilateral trade in services declined by a whopping 42.9 per cent from USD 11.89.