India's exports dip 5.12% in October; trade deficit narrows to $8.71 billion

During April-October 2020, exports declined 19.02 percent to $150.14 billion, while imports fell 36.28 percent to $182.29 billion over the same period a year ago.

November 13, 2020 / 07:11 PM IST

India's exports fell 5.12 percent to $24.89 billion in October, after recording positive growth in September, on account of drop in shipments of petroleum products, gems and jewellery, leather and engineering goods, according to government data released on November 13.

Trade deficit in October narrowed to $8.71 billion as against $11.75 billion in the corresponding month a year ago.

Imports also fell 11.53 percent to $33.6 billion (year-on-year) in October 2020. Major export commodities that recorded negative growth in October included petroleum products (52 percent), cashew (21.57 percent), gems and jewellery (21.27 percent), leather (16.67 percent), man-made yarn/fabrics/made-ups (12.8 percent), electronic goods (9.4 percent), coffee (9.2 percent), marine products (8 percent) and engineering goods (3.75 percent).

During April-October 2020, exports declined 19.02 percent to $150.14 billion, while imports fell 36.28 percent to $182.29 billion over the same period a year ago. Oil imports dipped 38.52 percent to $5.98 billion in October. During April-October, oil imports declined 49.5 percent to $37.84 billion, the data showed. Oil imports dipped 38.52 percent to $5.98 billion in October.

After contracting for six straight months, India's exports had risen 5.99 percent to $27.58 billion in September.
PTI
first published: Nov 13, 2020 07:11 pm

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