October imports hit record $89.35 billion as exports jump 45%
In short
India’s merchandise imports hit a record $89.35 billion in October, while exports rose 45% to $49.47 billion. The trade deficit widened to $39.88 billion.
Higher energy prices helped push both exports and imports to record highs, according to the report.
What the reporting says
Merchandise imports hit a record $89.35 billion in October, while exports rose 45% to $49.47 billion. The trade deficit widened to $39.88 billion as higher energy prices pushed both inflows and outflows to record highs. The figures highlight a stronger import bill and faster export growth in the same month.
Why it matters
Merchandise imports rose to a record $89.35 billion in October, while exports climbed 45% to $49.47 billion, widening the trade deficit to $39.88 billion. The reported driver was higher energy prices, which pushed both imports and exports to record levels. The data points to a larger import bill even as export receipts strengthened sharply.