News Brief
India's Overall Exports Rise By 35.16 Per Cent To $56.51 Billion In October
Goods export (representative image) (GettyImages)
India’s overall exports (merchandise and services combined) in October 2021 are estimated to be $ 56.51 billion, exhibiting a positive growth of 35.16 per cent over the same period last year and a positive growth of 29.13 per cent over October 2019, the Ministry of Commerce said in a statement on Monday (15 November).
Overall imports in October 2021 are estimated to be $68.09 billion, exhibiting a positive growth of 57.32 per cent over the same period last year and a positive growth of 40.82 per cent over October 2019, the ministry said.
According to the data released by the ministry, India's merchandise exports rose by 43 per cent to $35.65 billion in October while trade deficit widened to $19.73 billion during the month.
The merchandise imports soared by 62.51 per cent to $55.37 billion, widening the trade deficit.
Export sectors which recorded positive growth during October include petroleum, coffee, engineering goods, cotton yarn/fabs/made-ups, gems and jewellery, chemicals plastic and linoleum and marine products, the data showed.
Cumulatively, merchandise exports during April-October 2021 stood at $233.54 billion, which is an increase of 55.13 per cent compared to the same period last year. During the same period, the merchandise imports rose by 78.16 per cent to $331.39 billion, leaving a trade deficit of $97.85 billion.
Oil imports in October jumped to $14.43 billion as against $6 billion in the same month last year. The imports expanded to $87.42 billion during April-October 2021.
Gold imports doubled to $5.1 billion during the month under review from $2.5 billion.
Outward shipments of engineering goods, which accounted for 28.19 per cent of total exports in October, increased by about 51 per cent year-on-year to $9.4 billion. Exports of petroleum products too touched $5.33 billion.
Gems and jewellery exports rose by 44.24 per cent to $4.22 billion.
(With inputs from PTI)
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