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India’s October trade deficit up 56.15% m-o-m

November 11: India’s trade deficit for October 2013 was up by 56.15% to $10,556.05 million from $6,760.17 million in September 2013.

Trade deficit for October 2013 widened mainly because of increase in imports compared to September 2013. For the month of October, there has been a 9.8% increase in export to $37,827.02 million in October 2013, compared to $34,439.50 million in September 2013. Exports, meanwhile, declined slightly by 1.47% to $ 27,270.97 million in October compared to $27,679.33 million in September.

However, for the April-October period, trade deficit was estimated at $90,682.29 million which was lower by 19.06% compared to the deficit of $1,12,030.84 million during the same period in the previous financial year, according to official data.

Exports, including re-exports, during October, 2013 were valued at $ 27,270.97 million (Rs 1,68,031.71 crore) which was 13.47% higher in dollar terms (31.86% higher in rupee terms) than the level of $24,032.90 million (Rs 1,27,431.81 crore) during October, 2012.

Cumulative value of exports for the period April-October 2013 -14 was $ 1,79,376.37 million (Rs 10,69,226.68 crore) as against $1,68,706.81 million (Rs 9,18,270.21 crore) registering a growth of 6.32% in dollar terms and growth of 16.44% in rupee terms over the same period last year.

Imports during October, 2013 were valued at $ 37,827.02 million (Rs 2,33,073.43 crore) representing a negative growth of 14.50% in dollar terms and a negative growth of 0.65 per cent in rupee terms over the level of imports valued at $44,243.75 million (Rs 2,34,597.63 crore) in October, 2012.

Cumulative value of imports for the period April-October, 2013-14 was $2,70,058.66 million (Rs 15,98,772.73 crore) as against $2,80,737.65 million (Rs 15,27,088.62 crore) registering a negative growth of 3.80% in dollar terms and growth of 4.69% in rupee terms over the same period last year.