India's October exports rise over 42%, imports over 62%

New Delhi, Nov 1 India's merchandise exports in rose to $35.47 billion, higher by 42.33 per cent on a year-on-year basis, preliminary data showed on Monday.

Exports in October 2020 had stood at $24.92 billion.

According to data furnished by the Ministry of Commerce and Industry, last month's exports rose by 35.21 per cent showed in comparison to October 2019.

"India's merchandise exports in October 2021 were $35.47 billion, an increase of 42.33 per cent over $24.92 billion in October 2020 and an increase of 35.21 per cent over $26.23 billion in October 2019."

"Value of non-petroleum exports in October 2021 was $30.27 billion, registering a positive growth of 29.63 per cent over non-petroleum exports of $23.35 billion in October 2020 and a positive growth of 32.84 per cent over non-petroleum exports of $22.79 billion in October 2019."

Besides, value of non-petroleum and non-gems and jewellery exports in October 2021 registered a positive growth of 27.54 per cent to $26.05 billion over non-petroleum and non-gems and jewellery exports of $20.43 billion in October 2020.

As per the data, India's merchandise imports last month increased by 62.49 per cent to $55.37 billion over $34.07 billion in October 2020 and 45.76 per cent over $37.99 billion in October 2019.

"Value of non-petroleum imports was $40.94 billion in October 2021 with a positive growth of 45.82 per cent over non-petroleum imports of $28.07 billion in October 2020 and a positive growth of 44.87 per cent over non-petroleum imports of $28.26 billion in October 2019."

"Value of non-oil, non-GJ (gold, silver & precious metals) imports was $32.42 billion in October 2021 with a positive growth of 39.29 per cent over non-oil and non-GJ imports of $23.27 billion in October 2020 and a positive growth of 30.72 per cent over non-oil and non-GJ imports of $24.8 billion in October 2019."

Consequently, trade deficit last month rose by 117.38 per cent YoY to $19.90 billion from $9.15 billion while it increased by 69.29 per cent when compared to $11.75 billion reported for October 2019.