India’s exports fall 11.8% in October as imports surge on festive demand

Описание: India’s merchandise exports fell 11.8% to USD 34.38 billion in October, reflecting pressure from weak global demand, government data showed. Imports, however, jumped 16.63% to USD 76.06 billion, driven largely by a spike in gold and silver inflows during the festive season. This pushed India’s trade deficit to USD 41.68 billion — one of the highest monthly gaps this fiscal. Exports to the United States dropped to USD 6.3 billion, while cumulative exports for April–October saw marginal growth of just 0.63%. Imports for the same period rose 6.37% to USD 451.08 billion, signalling strong domestic demand.

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