Exports Rose 43% In October To $35.65 Billion, Trade Deficit Widens

Exports from India grew in October 2021 mainly due to increase in demand

Led by robust global demand, country’s exports went up by 43 per cent in October 2021 to $35.65 billion, compared to $24.92 billion of the corresponding period of last year.

Trade deficit though widened to $19.73 billion during October 2021, according to data released by the commerce ministry.

Trade deficit gap widened mainly due to imports rising by 62.51 per cent to $55.37 billion, during the same period.

Sectors which showed positive growth during October included coffee, cotton yarn, gems & jewellery, petroleum and marine products among others.

Cumulatively exports during April-October 2021 stood at $233.54 billion, which is an increase of 55.13 per cent compared to the same period of last year.

During the same period, imports rose by 78.16 per cent to $331.39 billion. 

India’s overall exports (merchandise and services combined) in April-October 2021 are estimated to be $369.39 billion, exhibiting a growth of 39.83 per cent over the same period last year and a further rise of 19.97 per cent over April-October 2019 period.

Overall imports in April-October 2021 are estimated to be $409.30 billion, displaying a rise of 63.64 per cent over the same period last year, the ministry data said.