India’s trade deficit zooms to $19.63 billion in October

India's trade deficit ballooned to $19.63 billion during October 2011 amidst rising imports, which rose nearly 22 per cent year-on-year to $39.51 billion, while its exports rose just around 11 per cent to $19.88 billion.

For the April-October period, India's trade gap rose to $93.69 billion, up 8.04 billion (or 9.38 per cent) from $85.65 billion a year earlier, as the growth of the country's imports continued to outpace export growth.

Exports from the country during October 2011 were valued at $19.88 billion (Rs97,875.32 crore), up 10.82 per cent in dollar terms and 22.92 per cent higher in rupee terms compared to the level of $17.93 billion (Rs79,626.77 crore) during October 2010.

Cumulative value of exports from the country during April-October 2011-12 was $179.78 billion (Rs820,679.43 crore) against $123.17 billion (Rs564,313.87 crore), a growth of 45.96 per cent in dollar terms and a 45.43 per cent increase in rupee terms over the comparable period last year.

India's imports during October 2011 were valued at $39.51 billion (Rs194,636.35 crore), up 21.72 per cent in dollar terms and 35.01 per cent higher in rupee terms over the level of imports valued at $32.462 billion (Rs144,164.69 crore) in October 2010.

Cumulative value of imports during April-October 2011-12 stood at $273.47 billion (Rs1,251,948.19 crore) against $208.82 billion (Rs955,937.28 crore) – a 30.96 per cent growth in dollar terms and a 30.97 per cent rise in rupee terms over level of imports during the similar period last year.