Thaindian News

New Delhi, Dec 1 (IANS) India’s exports in October rose by a much slower 10.82 percent to $19.87 billion, official data showed Thursday, as a slowdown in major western markets affected demand pushing the monthly trade deficit to a four-year high of $19.6 billion.

Exports grew 36.3 percent in September and in the first seven months of 2011-12 grew by 45.96 percent at $179.78 billion.

Imports during October grew 21.72 percent to $39.51 billion against $32.46 billion in 2010-11 and for the seven-month period rose by 30.96 percent to $273.46 billion.

The trade deficit for April-October period is now estimated at $93.7 billion which was higher than the deficit of $85.7 billion during like period of 2010-11.

In the month under review, oil imports amounted to $10.1 billion, a 20.73 percent increase year-on-year, while non-oil imports rose 22.07 percent at $29.4 billion.

Oil imports during April-September were valued at $81.92 billion, 40.82 percent higher year-on-year.

The total value of non-oil imports during period under review was $29.44 billion, 22.07 percent higher than the level of such imports valued at $150.65 billion during the corresponding period last year.