Oct trade deficit rises to $10.56 billion

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Oct trade deficit rises to $10.56 billion
The Oct trade deficit number rose to $10.56 billion, as exports remained flat month on month. The Oct number was way above the Sept trade deficit number which had narrowed substantially to $6.7 billion.

Exports fell marginally to $27.3 billion from $27.7 billion, even as imports gained for the month of Oct to $37.8 billion.

Gold imports it maybe noted had fallen substantially in Sept, pushing the trade deficit lower. However, for October there could have been some festive demand.

India's trade deficit had left the government worried since it pushes up the current account deficit. A rising current account deficit has earlier pushed the rupee to a historic low against the dollar in Sept.

The rupee was trading at 63.24, down 76 paise over Friday's close.

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