India’s exports drop 1.12% to $23 billion in October, trade deficit widens - Hindustan Times
close_game
close_game

India’s exports drop 1.12% to $23 billion in October, trade deficit widens

Press Trust of India, New Delhi | ByPress Trust of India
Nov 14, 2017 06:08 PM IST

Export declined by 1.12% to $23 billion in October, but imports grew by 7.6% to $37.11 billion in October from $34.5 billion in the year-ago month.

Exports declined by 1.12% to $23 billion in October, retreating from a six-month high growth in September as shipments of textiles, pharmaceuticals, leather and gems and jewellery fell, official data showed.

Cumulative exports from India during April-October 2017-18 increased by 9.62% to $170.28 billion.(AP file photo / Representative)
Cumulative exports from India during April-October 2017-18 increased by 9.62% to $170.28 billion.(AP file photo / Representative)

Imports, however, grew by 7.6% to $37.11 billion in October from $34.5 billion in the year-ago month, the commerce ministry data released today showed.

Discover the thrill of cricket like never before, exclusively on HT. Explore now!

Trade deficit widened to $14 billion during the month under review as against $11.13 billion in October 2016.

Gold imports dipped by 16% to $2.94 billion last month.

Oil and non-oil imports grew by 27.89% and 2.19% to $9.28 billion and $27.83 billion, respectively in October.

Cumulative exports during April-October 2017-18 increased by 9.62% to $170.28 billion, while imports grew by 22.21% to $256.43 billion, leaving a trade deficit of $86.14 billion.

In October, petroleum, engineering and chemicals exports grew by 14.74%, 11.77% and 22.29%, respectively.

India’s exports had soared by 25.67% to $28.61 billion in September, logging its highest growth in last six months on the back of expansion in shipments of chemicals, petroleum and engineering products.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, February 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On