Trade Data: India’s trade deficit increased to $ 26.91 billion; Imports increased, exports decreased

Trade Data: India’s trade deficit continues to increase continuously and its further increase in October has come to the fore. The country’s trade deficit has increased to $26.91 billion in October. It was at $ 25.71 billion in the previous month in September.

The country’s exports declined by 16.65 percent to $ 29.78 billion in October
India’s merchandise exports declined by 16.65 per cent in October compared to the same month last year and stood at $29.78 billion. This information has been received from the data released on Tuesday by the Ministry of Commerce. In September, the country’s exports stood at $ 35.45 billion, which has decreased in September. Whereas in the same period last year i.e. in October 2021, it stood at $ 35.73 billion.

The country’s import also increased in October
The country’s imports have increased to $56.69 billion in October. This is less than its previous month i.e. September. The country’s imports stood at $61.16 billion in September. It was at $ 53.64 billion a year ago in the same month i.e. in October 2021.

The condition of import-export in the first 7 months of the current financial year
During the first seven months of the current financial year i.e. April-October, 2022, exports have increased by 12.55 percent to $ 263.35 billion, during this period imports have seen a growth of 33.12 percent and have reached $ 436.81 billion.

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