India's trade deficit peaks at nearly $ 21 bn in October 2012 alone

Nov 12, 2012 12:00 AM

India imported goods and services worth an estimated $ 44.21 bn in October 2012 against exports of 23.25 bn, registering the highest monthly trade deficit of $ 20.96 bn and a cumulative current account deficit of $ 110. 21 bn during the April-October 2012-13 period.
India's imports during October 2012 were valued at $ 44.21 bn (Rs 234,409.93 crore), which showed a growth of 7.37 % in dollar terms and a 15.58 % growth in rupee terms against imports valued at $ 41.18 bn (Rs 202,819.70 crore) in October 2011.

Exports from the country during October 2012 were valued at $ 23.25 bn (Rs 123,264.20 crore), which was 1.63 % lower in dollar terms and 5.89 % higher in rupee terms compared to exports worth $ 23.63 bn (Rs 116,406.37 crore) during October 2011.
During the first seven months of the financial year (April-September 2012-13) the country imported goods and services worth $ 277.14 bn (Rs 1,507,202.58 crore) against cumulative imports of $ 284.72 bn (Rs 1,304,631.60 crore) – a negative growth of 2.66 % in dollar terms and a 15.53 % growth in rupee terms over the same period last year.

Cumulative value of exports for the April-October 2012-13 period was $ 166.92 bn (Rs 908,340.19 crore) against $ 177.92 bn (Rs 814,708.35 crore) - a  negative growth of 6.18 % in dollar terms and an 11.49 % growth in rupee terms over the same period last year.
Crude oil continued to be at the top of India's import basket during October 2012 as well with imports valued at $ 14.79 bn – a 31.61 % increase from oil imports valued at $ 11.23 bn in the corresponding period last fiscal.

Oil imports during April-October 2012-13 were valued at $ 95.57 bn, which was 9.99 % higher than the oil imports worth $ 86.89 bn in the corresponding period last year.
Non-oil imports during October 2012 were estimated at $ 29.42 bn, which was 1.73 % lower compared to such imports worth $ 29.94 bn in October 2011.

Non-oil imports during April-October 2012-13 were valued at $ 181.57 bn, which was 8.22 % lower than the level of such imports valued at $ 197.83 bn in April- October 2011-12.
The country's overall trade deficit for April-October 2012-13 was estimated at $ 110.21 bn, which was higher than the deficit of $ 106.81 mm during April-October 2011-12.

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