In October, exports contracted 1.6% over the same month last year in USD terms, which was less than the 10.2% drop registered in September. That said, the figure represented the sixth consecutive decline in exports. As a result, in the 12 months up to October, exports contracted 4.0% over the same period the previous year (September: -2.0% year-on-year). Meanwhile, imports expanded 7.4% in October, which was above the 5.2% rise recorded in September. As a result, imports grew 8.0% in annual terms in the last 12 months (September: +9.5% yoy). The trade deficit reached USD 21.0 billion in October, the largest on record. As a result, the 12-month moving sum of the trade balance reached USD192 billion, larger than the USD 188 billion recorded in September.
India Trade Balance
October trade deficit largest on record
November 12, 2012
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India Trade Balance Chart
India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.