New Delhi: Commerce Secretary Sunil Barthwal said on Wednesday that India’s trade deficit in October stood at $31.46 billion, while the country’s imports increased to $65.03 billion during the month.
The country’s import bill has increased due to the sharp rise in global crude oil prices. Similarly, gold imports increased by 5.5 percent to $29.48 billion in October 2023 compared to October 2022.
Trade deficit in September was $19.37 billion. The country’s exports rose 6.2 percent to $33.57 billion in October, from $31.60 billion in October 2022, while imports stood at $65.03 billion, up from $57.91 billion in the same month last year. The increase in exports during the month is a matter of relief. This broke the declining trend in recent months. Exports fell 7 percent to $244.89 billion during April-October this year compared to the same period last year.
