The commerce ministry in its latest data has showed that India’s merchandise exports rose by 17.25 per cent to $39.2 billion in October 2024 as against $33.43 billion a year ago. Imports increased by 3.9 per cent to $66.34 billion in October 2024 as compared to $63.86 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $27.14 billion during the month under review.
According to the data, merchandise exports during April-October 2024 were $252.28 billion as compared to $244.51 billion during April-October 2023. Merchandise imports during April-October 2024 were $416.93 billion as compared to $394.18 billion during April-October 2023. Merchandise trade deficit during April-October 2024 was $164.65 billion as compared to $149.67 billion during April-October 2023.
Non-petroleum and non-gems & jewellery exports in October 2024 were $31.36 billion compared to $24.56 billion in October 2023. Non-petroleum and non-gems & jewellery exports in April-October 2024 were $194.17 billion, compared to $178.28 billion in April-October 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in October 2024 were $39.21 billion compared to $37.23 billion in October 2023. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-October 2024 were $261.92 billion, compared to $248.57 billion in April-October 2023.
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