India's merchandise exports in October rose approx 42.3 per cent on a year-over-year basis to touch $35.47 billion, as per preliminary trade data revealed by the Ministry of Commerce and Industry on Monday. Total merchandise imports in Octob꧙er, however, rose 62.5 per cent to $55.37 billion.
The trade deficit in the month of October widened to $19.9 billion compared to $9.15 billion, recorꦚded in October 2020.
Additionally, the ministry stated that the country's merchandise exports for the April-October 2021 stood at $232.58 billion, an increase of 54.5 per cent over $150.53 billion recorded in the comparable period last year. Trade deficit stoo♈d for April-October 2021 more than doubled on a year-over-year basis at $98.71 billion. It was $34﷽.85 billion in April-October 2020.
Noꦏn-petroleum exports in October 2021 registered a positive growth of 29.6 per cent at $30.27 billion compared to $23.5 billion recorded in October 2020. Non-petroleum imports grew 45.8 per cent at $40.94 billion on a year-over-year basis.
The ministry informed that the top ten major groups cumulatively accounted for 81.62 per cent of all exports. These include engineering goods, petroleum products, gems and jewe𓆏llery, organic and inorganic chemicals, drugs and pharmaceuticals, electronic goods, Cotton Yarn/Fabrics/Made-ups Handloom Products, Plastic And Linoleum, Marine Products and RMG Of All Textiles.
