New Delhi: Merchandise exports from India in October 2024 month jumped 17.26 per cent year-on-year to $39.2 billion. Meanwhile, imports rose 3.88 per cent to $66.34 billion. In the previous month of September 2024, merchandise exports were $34.58 billion and imports stood at $55.36 billion.
India’s merchandise trade deficit increased to $27.14 billion in October. Merchandise trade deficit in April-October period rose to $164.65 billion, up 10% from $149.67 billion a year ago. Trade deficit is the difference between imports and exports.
India’s total exports are expected to rise above $800 billion in the fiscal year ending in March 2025. India’s total exports touched $776.68 billion last fiscal year. This was almost at the same level as a year ago.
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Engineering exports rose to $67.49 billion during April-October, compared to $61.5 billion from a year earlier, and electronics goods shipments rose to $19.07 billion from $15.42 billion during the same period.
In October, services exports were estimated at $34.02 billion, and imports at $17 billion against $30.61 billion and $16.32 billion, respectively, in the previous month.
Gold imports rose to $7.13 billion in October, up from $4.39 billion in the previous month, while crude oil imports rose to $18.2 billion from $12.5 billion, the data showed. Gold imports had risen to $10.06 billion in August, the highest since March 2021, after the government slashed the import tariff on the yellow metal in July.
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