Home >Industry >Banking >Exports rise 17.86%, trade deficit widens to $17.13 billion in October
India buys over 80% of its oil needs from overseas markets. Photo: reuters
India buys over 80% of its oil needs from overseas markets. Photo: reuters

Exports rise 17.86%, trade deficit widens to $17.13 billion in October

Oil imports in October totalled $14.21 billion, up 52.64% from a year earlier

New Delhi: India’s October trade deficit widened to $17.13 billion due to a higher oil import bill, the country’s trade ministry said in a statement on Thursday. In September, the trade deficit was at $13.98 billion.

Exports rose by 17.86% to $26.98 billion in October over the year-ago month.

Imports during the month increased by 17.62% to $44.11 billion, against the same month last year.

India, the world’s third-biggest crude importer, buys over 80% of its oil needs from overseas markets. Oil imports in October totalled $14.21 billion, up 52.64% from a year earlier, the data showed.

During the April-October period of the current fiscal, exports grew by 13.27% to $191 billion.

Imports were up by 16.37% to $302.47 billion, leaving a trade deficit of $111.46 billion during the first seven months of the current fiscal. It was $91.28 billion in April-October 2017-18.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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