India’s October trade deficit narrows to USD 11 billion

New Delhi: The country's exports dipped by 1.11 per cent to USD 26.38 billion in October on account of contraction in sectors like petroleum and leather.

In September also, exports had contracted by 6.57 per cent to USD 26 billion.

Imports too declined by 16.31 per cent to USD 37.39 billion, narrowing trade deficit to USD 11 billion in October, according to official data released on Friday.

Trade deficit in October last year stood at USD 18 billion.Oil imports, in October 2019, fell 31.74 per cent to USD 9.63 billion as compared to the same month last year.

Exports during April - October this fiscal dipped by 2.21 per cent to USD 185.95 billion. Imports were down by 8.37 per cent to USD 280.67 billion, leaving a trade deficit of USD 94.72 billion.

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Free Press Journal