Trade deficit widens to $19.73 bn
New Delhi: India's exports rose 18.8 per cent to $20.01 billion during the three week period of this month (November 1-21), due to healthy growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery, according to the preliminary data of the Union Commerce Ministry.
Imports during the period increased 45.34 per cent to $35.11 billion as against $24.15 billion during the corresponding period last year, the data showed. The exports are growing at a healthy rate and are expected to cross $400 billion by the end of the current fiscal. In October, the outbound shipments jumped 43 per cent to $35.65 billion, while the trade deficit widened to $19.73 billion during the month. Export sectors that are recording positive growth continuously include petroleum, coffee, engineering goods, cotton yarn/fabrics/made-ups, gems and jewellery, chemicals plastic and linoleum and marine products. Cumulatively exports during April-October 2021 stood at $233.54 billion, which is an increase of 55.13 per cent compared to the same period last year. During the same period, imports rose 78.16 per cent to $331.39 billion, leaving a trade deficit of $97.85 billion.