Exports decline 1.6% in Oct, imports jump 7%

India’s exports declined for the sixth consecutive month by 1.6% to $23.2 billion in October 2012, against $23.6 billion in the corresponding month of the previous year. Imports in October this year rose by 7.37% to $44.2 billion, compared with $41.1 billion in October 2011.

Trade deficit for the first seven months of 2012-13 was at $110 billion against $106.8 billion in the corresponding period of last year, showed the data released by the Ministry of Commerce & Industry today.

Cumulative value of exports for the period April-October 2012-13 was $166.9 billion, against $177.9 billion in the year ago period — a decline of 6.18%. Cumulative value of imports for April-October 2012-13 was $277.1 billion, against $284.7 in the same period of 2011-12 — a fall of 2.66%.

 

Oil imports during October 2012 were valued at $14.7 billion, which was 31.61% higher than oil imports of $11.2 billion in the corresponding period last year. Oil imports during April-October 2012-13 were at $95.5 billion, which was 9.99% higher than the oil imports of $86.8 billion in the year ago period.

Non-oil imports during October 2012 were estimated at $29.4 billion, which was 1.73% lower than non-oil imports of $29.9 billion in October, 2011. Non-oil imports during April-October 2012-13 were at $181.5 billion, which was 8.22% lower than the level of such imports valued at $197.8 billion in April-October 2011-12.