Exports up 11% in Oct; trade deficit widens to "worrying" level

New Delhi: India’s exports grew year-on-year by 10.8 percent to $19.9 billion in October while imports expanded at a sharper rate, leaving a big trade deficit of $19.6 billion.

Imports increased by 21.7 percent to $39.5 billion in October, according to data released by Commerce Secretary Rahul Khullar here today.

For the cumulative April-October period, exports aggregated to $179.8 billion, showing a handsome growth of 46 percent, thanks to sterling trend witnessed in the previous months of the current fiscal.

Imports for the seven-month period stood at $273.5 billion growing by 31 percent, while leaving the trade gap of $93.7 billion.

“Exports growth continues to look good and every sector is posting good growth,” Khullar told reporters here.

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However, he said, the balance of trade “is something to be very worried about because at this rate you are going to breach the $150 billion mark (for the fiscal 2011-12).”

PTI