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India's exports dip 5.12% in Oct; trade deficit narrows to $8.71 billion

Imports also fell 11.53 per cent to $33.6 billion (year-on-year) in October 2020

India exports | Exports | trade deficit

Press Trust of India  |  New Delhi 

exports, imports, trade, RCEP
After contracting for six straight months, India's exports had risen 5.99 per cent to USD 27.58 billion in September

India's fell 5.12 per cent to USD 24.89 billion in October, after recording positive growth in September, on account of drop in shipments of petroleum products, gems and jewellery, leather and engineering goods, according to government data released on Friday.

in October narrowed to USD 8.71 billion as against USD 11.75 billion in the corresponding month a year ago.

also fell 11.53 per cent to USD 33.6 billion (year-on-year) in October 2020.

Major export commodities that recorded negative growth in October included petroleum products (52 per cent), cashew (21.57 per cent), gems and jewellery (21.27 per cent), leather (16.67 per cent), man-made yarn/fabrics/made-ups (12.8 per cent), electronic goods (9.4 per cent), coffee (9.2 per cent), marine products (8 per cent) and engineering goods (3.75 per cent).

During April-October 2020, declined 19.02 per cent to USD 150.14 billion, while fell 36.28 per cent to USD 182.29 billion over the same period a year ago.

Oil dipped 38.52 per cent to USD 5.98 billion in October. During April-October, oil imports declined 49.5 per cent to USD 37.84 billion, the data showed.

After contracting for six straight months, India's had risen 5.99 per cent to USD 27.58 billion in September.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 13 2020. 19:10 IST