October trade deficit widens to $17.13 bn; exports up 17.86% at $26.98 bn

India's exports rose by 17.86 per cent to USD 26.98 billion in October compared to the year-ago month, according to the commerce ministry data.

Imports during the month also rose by 17.62 per cent to USD 44.11 billion, leading to widening of trade deficit to USD 17.13 billion.

The deficit widened despite a steep decline of 42.9 per cent in gold imports to USD 1.68 billion during the month under review.

The trade gap was USD 14.61 billion in October 2017.

During the April-October period of the current fiscal, exports grew by 13.27 per cent to USD 191 billion.

Imports were up by 16.37 per cent to USD 302.47 billion, leaving a trade deficit of USD 111.46 billion during the first seven months of the current fiscal. It was USD 91.28 billion in April-October 2017-18.

Oil imports in October increased by 52.64 per cent to USD 14.21 billion. The non-oil imports rose by 6 per cent to USD 29.9 billion in the month.

In September, exports had contracted by 2.15 per cent.