NEW DELHI: India’s merchandise exports sharply rose in October with 18 of the 30 export sectors registering a growth in outward shipments.
Showing a 9.6% rise, exports in the month were $23.5 billion compared with $21.4 billion in the year ago period while imports rose 8.1% to $33.7 billion from $31.1 billion in the year ago period leaving a trade deficit of $10.1 billion.
“Overall the trade balance has improved,” said the commerce and industry ministry in a release.
Gold imports more than doubled to $3.5 billion from $1.7 billion in the year ago period.
As for services trade, data released by RBI showed exports worth $13.7 billion and imports of $8.3 billion in September.
India’s bullish exports have come at a time when Chinese exports fell for the seventh consecutive month in October due to weak demand.