India's April-October trade deficit vaults nearly 25 per cent to $72.8 billion

India's trade deficit rose over 24.8 per cent year-on-year in the first seven months of the current financial year (April-October 2010-11) to an estimated $72.8 billion against a deficit of $58.31 billion registered during April-October 2009-10.

The country's exports stood at $17.96 billion (Rs79,763 crore) in October 2010, showing an increase of 21.3 per cent in dollar terms and a 15.3 per cent increase in rupee terms over exports worth $14.81 billion (Rs69,175 crore) in October 2009.

Cumulative value of India's exports during April-October 2010 stood at $121.39 billion (Rs5,56,162 crore) against $95.76 billion (Rs4,62,437 crore) in the same period of the previous year, showing an increase of 26.8 per cent in dollar terms and 20.3 per cent in rupee terms.

India's imports during October 2010 grew at a slower pace to $27.69 billion (Rs1,22,970 crore) from $25.94 billion (Rs1,21,175 crore) in October 2009, showing a growth of 6.8 per cent in dollar terms and a 1.5 per cent increase in rupee terms.

Cumulative value of imports during the April-October 2010 period rose to $194.17 billion (Rs8,89,827crore) from $154.07 billion (Rs7,43,470 crore) in the similar period of the previous fiscal, showing a rise of 26.0 per cent in dollar terms and a 19.7 per cent increase in rupee terms.

Oil imports during October 2010 were marginally higher (up 0.3 per cent) at $8.41 billion against oil imports valued at $8.39 billion in the corresponding period of the previous fiscal.  During April-October 2010, India's oil imports rose 24.6 per cent to $57.13 million from the oil imports of $45.87 billion in the corresponding period last year.

Non-oil imports during October 2010 rose 9.9 per cent to an estimated $19.28 billion against such imports worth $17.55 billion in October 2009. Non-oil imports during April-October 2010 rose 26.7 per cent to $137.04 billion compared with the April-October 2009 level of $108.20 billion.