Merchandise Exports Grow 42.33 Per Cent YoY To $35.47 Billion In October 2021: Report

Provisional data released by the central government reveals that India’s merchandise exports increased by 42.33 per cent on an year-on-year (YoY) basis to $35.47 billion in October 2021.

Exports stood at $24.92 billion and $26.23 billion in October 2020 and October 2019 respectively.

“India's merchandise exports in October 2021 was $35.47 billion, an increase of 42.33 per cent over $24.92 billion in October 2020 and an increase of 35.21 per cent over $26.23 billion in October 2019,” the official statement read, as reported by the Times of India.

However, the merchandise imports too grew by 62.49 per cent YoY to $55.37 billion last month from $34.07 billion in October 2020.

Thus the trade deficit was $19.9 billion in October 2021. The same figure stood at $98.71 billion during the period of April-October 2021.

More importantly, an astonishing 104.25 per cent increase was noted in gold imports in October 2021 as it amounted to $5.1 billion in the previous month as compared to $2.49 billion a year ago.