October trade deficit rises to three-year high of $14.02 bn

Merchandise exports for October fell 1.12 per cent from a year ago to $23 billion

Export declined by 1.12 per cent to $23 billion in October, retreating from a six-month high growth in September as shipments of textiles, pharmaceuticals, leather and gems and jewellery fell, official data showed.

Imports, however, grew by 7.6 per cent to $37.11 billion in October from $34.5 billion in the year-ago month, the commerce ministry data released today showed.

Trade deficit widened to $14.02 billion during the month under review as against $11.13 billion in October 2016.

Gold imports dipped by 16 per cent to $2.94 billion last month.

Oil and non-oil imports grew by 27.89