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India’s trade deficit widens to nearly $27 billion in October as exports fall 17%

Imports during the month under review increased to USD 56.69 billion as against USD 53.64 billion in October 2021.

November 15, 2022 / 04:01 PM IST
Representational image.

Representational image.

India's trade deficit widened to $26.91 billion in October from $25.71 billion in September, according to data released by commerce ministry on November 15.

Exports in October contracted 16.65 percent on year to $29.78 billion in October.

Imports in October rose to $56.69 billion from $53.64 billion a year ago.
During April-October, exports rose 12.55 percent to $263.35 billion. Imports rose 33.12 percent to $436.81 billion.

India’s trade deficit has ballooned in recent months amid elevated commodity prices and a recovering domestic economy which has boosted imports. Meanwhile, a slowing global economy has pressured outbound shipments.