India’s merchandise trade deficit rose to $41.68 billion in October, up from $32.15 billion in September, driven largely by an increase in gold and silver imports, government data showed. The trade deficit had widened to a 13-month high of $32.15 billion in September. In August 2024, the deficit stood at $35.62 billion, according to data from the Reserve Bank of India. Economists had expected the October trade deficit to be $28.8 billion, according to a Reuters poll, compared to $32.15 billion in the previous month. For the month of October, India's exports were down 11.8% to $34.38 billion in October while imports went up 16.63% to $76.06 billion. Commenting on the deficit, the Commerce Secretary said that India's gold imports in October jumped to $14.72 billion against $4.92 billion in same month last year. (ICE NEW DELHI)

Fonte notizia: Economic Times