Exports up by 13.7%; trade deficit narrowed to USD 10.56 bn

New Delhi, Nov 11 (KNN)  India's exports rose by 13.7 per cent to USD 27.27 billion in October, while the imports fell by 14.5 per cent to USD 37.82 billion, narrowing the trade deficit of the country to USD 10.56 billion.

During the same period last year, the trade deficit was at USD 20.2 billion.

"This is a consistent growth in exports. The US is doing extremely well and Europe is also doing well," Commerce Secretary S R Rao told reporters here.

According to data released, the value of merchandise exports in October was USD 27.27 billion, as compared to USD 24.03 billion recorded in the same month last year, registering a year-on-year growth of 13.47 per cent.

Gold and silver imports in October dropped to USD 1.3 billion from USD 6.8 billion in the same period last year.

Rao was optimistic about achieving the USD 325 billion target for the current fiscal. (KNN/SD)