Green Shoots
- Geo-political unrest impacting exports
- However, recovery in outbound shipments
- Inbound shipments of gold rose by 95.5% to $7.23 bn
- Oil imports rose by 8% to $17.66 bn
New Delhi: India’s merchandise exports rose 6.21 per cent to $33.57 billion in October this year, even as the trade deficit touched a record high of $31.46 billion during the month, government data showed on Wednesday. Imports increased by 12.3 per cent to $65.03 billion in the month under consideration due to a jump in gold imports.
Inbound shipments of gold rose by 95.5 per cent to $7.23 billion. Oil imports also rose by eight per cent to $17.66 billion during the month. The country’s trade deficit in goods in October last year stood at $26.31 billion.
“The deficit (difference between imports and exports) during October is the highest because of the largest import figures,” Additional Secretary in the Commerce Ministry L Satya Srinivas told reporters here.