India export up 9.59% to $23.51 billion in October; trade deficit at $10 billion

India export swelled for the second month in a row, expanding by 9.59 per cent to USD 23.51 billion in October on healthy growth in shipments of jewellery and engineering products. Imports too increased by 8.11 per cent to USD 33.67 billion, leaving a trade deficit of USD 10.16 billion in the month under review.

Exports of gems and jewellery rose by 21.84 per cent; engineering products rose by 13.86 per cent; petroleum by 7.24 per cent; and chemicals by 6.65 per cent during the month compared to the same month last year, the official data released on Tuesday showed.

In September, exports grew by 4.62 per cent to USD 22.9 billion on the back of expansion in shipments of engineering products and gems and jewellery, arresting the two-month fall.

Exports dipped by 0.17 per cent to USD 154.91 billion for the period during April-October of the current fiscal. Imports too contracted by 10.85 per cent to USD 208 billion, leaving a trade deficit of USD 53.16 billion.

Oil imports in October grew by 3.98 per cent to USD 7.14 billion. Non-oil imports rose by 9.28 per cent to USD 26.53 billion.