Trade deficit narrows to USD 11 billion in October

The trade deficit narrowed to $11.01 billion from $ 17.13 billion a year earlier. The contraction is mainly due to fall in Brent.

Exports in October 2019 were $ 26.38 billion, as compared to $ 26.67billion in October 2018, exhibiting a negative growth of 1.11 per cent and imports were at $36.39 billion.

Oil imports in October 2019 were $9.63 billion, which was 31.74 per cent lower, compared to $ 14.11 billion in October 2018.

Non-oil imports in October 2019 were estimated at USD 27.76billion which was 9.19per cent lower in Dollar terms, compared to USD 30.57billion in October 2018.

Non-petroleum and Non Gems and Jewellery exports in October 2019 were USD19.04billion, as compared to USD18.93billion in October 2018, exhibiting a positive growth of 0.59per cent. Non-petroleum and Non Gems and Jewellery exports in April-October 2019-20 were USD137.45billion, as compared to USD137.93billion for the corresponding period in 2018-19, a decrease of 0.35per cent.

Cumulative value of exports for the period April-October 2019-20 was USD185.95 billion (Rs.13,04,149.06crore) as against USD190.15billion (Rs.13,17,881.40crore) during the period April-October 2018-19, registering a negative growth of 2.21per cent in Dollar terms (negative growth of 1.04per cent in Rupee terms).