Monday, Jan 24, 2022
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India's Exports Increased 42.3% Y-o-Y In October To $35.47 Billion, Trade Deficit Widens To $19.9 Billion

Total merchandise imports in October, however, rose 62.5 per cent to $55.37 billion.

India's Exports Increased 42.3% Y-o-Y In October To $35.47 Billion, Trade Deficit Widens To $19.9 Billion
India's Exports Increased 42.3% Y-o-Y In October To $35.47 Billion, Trade Deficit Widens To $19.9 Billion -

India's merchandise exports in October rose approx 42.3 per cent on a year-over-year basis to touch $35.47 billion, as per preliminary trade data revealed by the Ministry of Commerce and Industry on Monday. Total merchandise imports in October, however, rose 62.5 per cent to $55.37 billion.

The trade deficit in the month of October widened to $19.9 billion compared to $9.15 billion, recorded in October 2020.

Additionally, the ministry stated that the country's merchandise exports for the April-October 2021 stood at $232.58 billion, an increase of 54.5 per cent over $150.53 billion recorded in the comparable period last year. Trade deficit stood for April-October 2021 more than doubled on a year-over-year basis at $98.71 billion. It was $34.85 billion in April-October 2020. 

Non-petroleum exports in October 2021 registered a positive growth of 29.6 per cent at $30.27 billion compared to $23.5 billion recorded in October 2020.  Non-petroleum imports grew 45.8 per cent at $40.94 billion on a year-over-year basis. 

The ministry informed that the top ten major groups cumulatively accounted for  81.62 per cent of all exports. These include engineering goods, petroleum products, gems and jewellery, organic and inorganic chemicals, drugs and pharmaceuticals, electronic goods, Cotton Yarn/Fabrics/Made-ups Handloom Products, Plastic And Linoleum, Marine Products and RMG Of All Textiles.

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