Exports jump 43 pc to USD 35.65 bn in Oct, imports soar 62pc

India’s exports rose by 43 per cent to USD 35.65 billion in October while trade deficit widened to USD 19.73 billion during the month, according to the official data released on Monday.




Imports soared by 62.51 per cent to USD 55.37 billion, widening the trade deficit.

Export sectors which recorded positive growth during October include petroleum, coffee, engineering goods, cotton yarn/fabs./made-ups, gems and jewellery, chemicals plastic and linoleum and marine products, the data showed.

Cumulatively, exports during April-October 2021 stood at USD 233.54 billion, which is an increase of 55.13 per cent compared to the same period last year. During the same period, imports rose by 78.16 per cent to USD 331.39 billion, leaving a trade deficit of USD 97.85 billion.

Oil imports in October jumped to USD 14.43 billion as against USD 6 billion in the same month last year. The imports expanded to USD 87.42 billion during April-October 2021.

Gold imports doubled to USD 5.1 billion during the month under review from USD 2.5 billion.

Outward shipments of engineering goods, which accounted for 28.19 per cent of total exports in October, increased by about 51 per cent year-on-year to USD 9.4 billion. Exports of petroleum products too touched USD 5.33 billion.

Gems and jewellery exports rose by 44.24 per cent to USD 4.22 billion.

Commenting on the data, Federation of Indian Export Organisations (FIEO) said that the export figures signifies the importance of opening up and further recovery of economies across the globe coupled with buoyant order booking position across sectors.

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“The need of the hour is to announce extension of the interest equalisation scheme, augmenting the flow of empty containers and establishing a regulatory authority to seek justification of freight hike and imposition of various charges by the shipping lines need urgent intervention of the government,” it said in a statement.

In September, the trade deficit hit a record high of USD 22.59 billion as imports of crude oil and gold spiked.