India’s merchandise exports rise 21.36 percent in October

December 1st, 2010 - 2:51 pm ICT by IANS  

New Delhi, Dec 1 (IANS) India’s merchandise exports rose 21.36 percent in October to almost $18 billion ((Rs.79,763 crore) compared to the like month of last year, while imports grew at their slowest pace — 6.8 percent to $27.68 billion, according to official data released Wednesday.

“The trade deficit for April-October 2010 was estimated at $72.77 billion which was higher than the deficit of $58.31 billion during April-October, 2009,” said a statement from the commerce and industry ministry.

Cumulative value of exports for the period April-October increased 26.8 percent and stood at $121.39 billion as against $95.75 billion in the like period of previous fiscal.

Total value of imports in the first seven months of the current fiscal rose 26 percent and stood at $194.16 billion compared to $154.06 billion in the like period 2009-10.

Oil, which constitutes a majority of total imports, rose 0.3 percent in October at $8.4 billion, while for April-October the oil imports were valued at $57.12 billion.

October’s non-oil imports were estimated at $19.27 billion, 9.9 per cent higher than the previous corresponding period , while such imports during April-October 2010 rose 26.7 percent to $137.04 billion.

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