<h1>Merchandise exports fell 11.8% to USD 34.38bn in October, driven by higher US tariffs and broad sectoral weakness.</h1> Merchandise exports fell 11.8% year on year to USD 34.38 billion in October, driven by a 50% increase in US tariffs and broad declines across petroleum products, gems and jewellery, and core sectors; exports to the US fell 8.6% to USD 6.3 billion while non US markets dropped 12.5%. The report notes a US tariff cut on 254 food items that may aid some agricultural exports and projects a manageable current account deficit supported by services trade, remittances and softer crude prices, with merchandise imports stable at USD 76.06 billion.