November 15, 2018 / 12:40 PM / 8 months ago

India's October trade deficit widens to $17.13 billion

A fisherman prepares to cast his fishing net in the waters of the Vembanad lake as a container ship is seen docked in the background, at a port in Vallarpadam, Kochi February 11, 2014. REUTERS/Sivaram/Files

NEW DELHI (Reuters) - India’s October trade deficit widened to $17.13 billion due to a higher oil import bill, the country’s trade ministry said in a statement on Thursday.

In September, the trade deficit was at $13.98 billion.

India, the world’s third-biggest crude importer, buys over 80 percent of its oil needs from overseas markets.

The country’s oil imports in October totalled $14.21 billion, up 52.64 percent from a year earlier, the data showed.

Reporting by Nidhi Verma; Editing by Subhranshu Sahu

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