Trade Deficit Shrinks to $ 13.35 Billion for October

Business

oi-Sneha

By Sneha B K

Published: Monday, November 17, 2014, 15:58 [IST]

India's trade deficit narrows to $13. 35 billion for the month of the October from 14.25 billion in the month of September. Last year in October trade deficit stood at $10.6 billion, according to the data released on Monday by commerce ministry.

While, gold imported surged to $ 4.17 billion from $1.09 billion last year. The rise the gold imports may be due to festive season in India.

Oil imports, stood lower by 19% at $12 billion, against $15.2 billion a year ago. The slip was due to lower oil imports during the period.

Exports during October, 2014 were valued at US $ 26 billion which was 5.04 per cent lower in Dollar terms than the level of US $ 27 billion during October, 2013.

Non-oil imports stood at USD 27.08 billion as against USD 28.65 billion, from September.

Exports fell to USD 26.09 billion from USD 28.90 billion last month, which was lowest level since March 2014.

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