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INDIA'S OCT EXPORTS GROW 6.21% YOY TRADE DEFICIT MOVES UP TO $31.46 BN
The Business Guardian
|November 16, 2023
India’s exports sector is on the road to recovery despite weak demand but increase in imports remains a cause for concern
India's merchandise exports in October 2023 registered 6.21 per cent year-on-year growth at USD 33.57 over USD 31.60 billion in October 2022, with major contribution to export growth coming from drugs and pharmaceuticals, engineering goods, electronic goods, cotton yarn/fabs./made-ups, handloom products etc., iron ore, ceramic products & glassware and meat, dairy and poultry products. Merchandise imports in October 2023 grew to USD 65.03 billion, as compared to USD 57.91 billion in October 2022, pushing up India's trade deficit to a record monthly high of USD 31.46 billion in October, led by an uptick in imports like gold during the festive season, the Commerce Ministry data showed on Wednesday.
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