Trade Deficit Narrows To $11 Billion In October

The country's exports dipped by 1.11 per cent to $26.38 billion in October on account of contraction in sectors like petroleum and leather. In September also, exports had contracted by 6.57 per cent to $26 billion. Imports too declined by 16.31 per cent to $37.39 billion, narrowing trade deficit to $11 billion in October, according to official data released on Friday.

Trade deficit in October last year stood at $18 billion. Oil imports, in October 2019, fell 31.74 per cent to USD 9.63 billion as compared to the same month last year.

Exports during April - October this fiscal dipped by 2.21 per cent to $185.95 billion. Imports were down by 8.37 per cent to $280.67 billion, leaving a trade deficit of $94.72 billion.