Exports decline 5.12% in October

New Delhi, November 13

India’s exports fell 5.12% to $24.89 billion in October, after recording positive growth in September, on account of drop in shipments of petroleum products, gems and jewellery, leather and engineering goods, according to government data released on Friday.

Trade deficit in October narrowed to $8.71 billion as against $11.75 billion in the corresponding month a year ago. Imports also fell 11.53% to $33.6 billion (year-on-year) in October 2020. Major export commodities that recorded negative growth in October included petroleum products (52%), cashew (21.57%), gems and jewellery (21.27%), leather (16.67%), man-made yarn/fabrics /made-ups (12.8%), electronic goods (9.4%), coffee (9.2%), marine products (8%) and engineering goods (3.75%).

During April-October 2020, exports declined 19.02% to $150.14 billion, while imports fell 36.28% to $182.29 billion over the same period a year ago. — PTI