November 15, 2019 / 12:50 PM / a month ago

India's October trade deficit narrows to $11.01 billion

FILE PHOTO - A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave/File Photo

NEW DELHI (Reuters) - India’s trade deficit narrowed to $11.01 billion in October from $18.0 billion a year ago, the trade ministry said on Friday, helped by lower oil imports.

Oil imports fell 31.74% to $9.63 billion in October from $14.11 billion in the year-ago period.

Merchandise exports fell 1.11% to $26.38 billion in October compared with a year earlier, while imports were down 16.31% at $37.39 billion, the data showed.

Reporting by Manoj Kumar; Editing by Andrew Heavens

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