Trade deficit narrows to $9.77 bn in October

Oct exports drop 17.5% while imports fell 21.15% y-o-y

The country's merchandise exports shrank 17.53 percent in October from a year ago to $21.35 billion, government data showed on Monday, on weak global demand.

The trade deficit marginally narrowed to $9.77 billion last month from $10.48 billion in September, the data released by the Ministry of Commerce and Industry showed. It was $13.5 billion in October 2014.

Imports fell 21.15 percent from a year earlier to $31.12 billion, the data showed.