India’s merchandise exports during the month of October grew only by 5.07 per cent at $4884.66 million compared to $4649.16 million exports registered in October 2002. The growth is much lower than the 16 per cent export growth registered in September 2003. Trade deficit in the month shot up by 114.2 per cent $2,021.04 million as against $943.91 million in October, 2002. In rupee terms, the exports in October 2003 were Rs 22170.16 crore which is 1.42 per cent lower than the value of exports during October 2002. According to the data released by the commerce and industry ministry, exports during the first seven months of April-October are valued at $32.09 billion which is 8.44 higher than the level of $29.59 billion exports during April-October 2002. The trade deficit for April-October, 2003-04 has also widened, which is estimated at $9.26 billion and is almost double than the deficit at $4.45 billion during April-October 2002-03. India’s imports during October this year were up by 23.47 cent at $6.90 billion as against $5.59 billion in October 2002.
