India's exports dropped by 1.63 percent to $23.24 billion in October, registering a decline for the seventh time in the past eight months due to weak demands in the US and European markets, government data showed Monday
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Exports had slumped by 10.78 percent to $23.69 billion in September.u00a0
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The cumulative value of exports for April-October 2012-13 period stood at $166.92 billion, down 6.18 percent from $177.91 billion registered during the corresponding period of last year.u00a0
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Imports jumped by 7.37 percent to $44.21 billion in October, leaving the monthly trade deficit of $20.97 billion, according to data released by the ministry of commerce and industry.u00a0
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The total value of imports during the April-October period of the current financial year was $277.13 billion, 2.66 percent lower than $284.72 billion registered during the corresponding period of the previous year.u00a0
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Trade deficit has widened as the decline in exports was sharper than the decline in imports.u00a0
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Cumulative trade deficit for the first seven months of the current financial year widened to $110.21 billion, as compared to $106.80 billion registered during April-October period of last year.u00a0
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