Press Information Bureau

Government of India

Ministry of Commerce & Industry

08-November-2011 16:30 IST

Export Grows 10.8% in October at US $ 19.9 Billion: Commerce Secretary

India’s exports have registered a growth of 10.8% during October 2011, at US $ 19.9 billion. Imports in October 2011 stood at 39.5 Billion US$ registering a growth of 21.7%. Balance of Trade for the period was (-) 19.6 Billion US$. Cumulative Export figures for the period of April to October 2011 stood at 179.8 Billion US$ registering a growth of 46%. Imports for the same period stood at 273.5 Billion US$ registering a growth of 31%. Balance of trade for the period stood at (-) 93.7 Billion US$.

During April-October 2011, the following sectors have done well viz., engineering, (US $ 51.4 billion) which registered the growth of 89.6 % over the last year.; petroleum & oil products, 51% (US $ 31.9 billion); Cotton 22% (US $ 3.99 billion) ; electronics, 50% (US $ 6.4 billion); Readymade garments, 31% ( US $ 7.7 billion).

As regards to imports during April-October 2011, the growth estimates on the following sectors are: POL, 41% (US $ 81.9 billion); Gold and silver 64% (US $ 38.3 billion),; machinery, 27.8% (US $ 20 billion), electronics, 22% (US & 19.7 billion).

Dr Khullar informed that these figures are provisional and are likely to change.

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DS/gk

Export growth signals sectoral expansion while rising imports widen the trade deficit, with figures provisional. India's merchandise exports rose in October 2011 while imports grew faster, producing a negative trade balance for the month and for April-October; the press release provides provisional export and import values and growth rates and highlights strong export performance in engineering, petroleum & oil products, cotton, electronics and readymade garments, with major import increases in petroleum, gold and silver, machinery and electronics.