India’s exports contracted 11.8 per cent to $34.38 billion in October, showed government data released on Monday.
Photograph: Mike Blake/Reuters
Imports jumped 16.63 per cent to $76.06 billion.
The country’s trade deficit stood at $41.68 billion during the reporting month.
Imports surged due to increased shipments of gold and silver.
Gold imports jumped to $14.72 bn in the last month against $4.92 bn recorded in the same month last year.
The country’s exports to the United States declined to $6.3 bn in October as against $6.9 bn registered in the year-ago month, Commerce Secretary Rajesh Agrawal told reporters.
During April-October this fiscal, exports increased marginally by 0.63 per cent to $254.25 billion.
At the same time, imports rose 6.37 per cent to $451.08 billion, the commerce ministry data showed.
