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15
November 2018
 |
Gold
(The Total Investment & Insurance Solutions)
The trade deficit for the month of October
widened to $17.13 billion vs $13.98 billion in September. The deficit widened
despite a decline of 42.9 per cent in gold imports to USD 1.68 billion. Imports
during the month also rose by 17.62 per cent to USD 44.11 billion, leading to
widening of trade deficit. Exports in October 2018 were US $ 26.98 Billion, as
compared to US $ 22.89 Billion in October 2017, exhibiting a positive growth of
17.86 per cent.
Oil imports in October increased by 52.64 per
cent to USD 14.21 billion. The non-oil imports rose by 6 per cent to USD 29.9
billion in the month. India’s trade deficit had declined to a five-month low in
September even as exports contracted, providing some respite from the rising
gap that has sparked concern about the current account deficit (CAD). The gap
between exports and imports, or trade deficit, declined to $13.98 billion in
September from $17.39 billion in August following slower growth in imports.
Exports were pegged at $27.95 billion in
September, down 2.15% from a year ago, while imports rose 10.45% to $41.9
billion, lowest in five months The
Total Investment & Insurance Solutions
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