India's April-October trade deficit narrows to $57.32 billion

India's trade deficit fell 34.72 per cent to an estimated $57.318 million in April-October 2009 from $87.827 billion reported during April-October 2008.

India's exports stood at $13.193 billion (Rs61,639 crore) during October 2009, down 6.6 per cent in dollar terms and 10.3 per cent lower in rupee terms, compared to the level of $14.131 billion (Rs68,754 crore) during October 2008, official data showed.

Cumulative value of exports for the April- October 2009 period stood at $91.048 billion (Rs439,835 crore) as against $123.038 billion (Rs533,205 crore) registering a negative growth of 26 per cent in dollar terms and 17.5 per cent in rupee terms over the exports in the same period last year.

Imports into the country during October 2009 were valued at $21.994 billion (Rs102,759 crore), which showed a 15 per cent fall in dollar terms and an 18.4 per cent decline in rupee terms compared with imports valued at $25.869  billion (Rs125,868 crore) in October 2008.

Cumulative value of imports for the April-October 2009 period stood at $148.367 billion (Rs716,535 crore) as against $210.864 billion (Rs916,483 crore), registering a negative growth of 29.6 per cent in dollar terms and 21.8 per cent in rupee terms over the same period last year.

Oil imports during October 2009 were valued at $6.608   billion, which was 9.3 per cent lower than oil imports valued at $7.285 billion in the corresponding period last year. For the April-October 2009 period, oil imports were valued at $42.864 billion, which was down 39.3 per cent from the oil imports of $70.570 billion in the corresponding period last year.

Non-oil imports during October 2009 were estimated at $15.387 billion, down 17.2 per cent from imports worth $18.584 billion in October 2008. Non-oil imports during April-October 2009 were valued at $105.503 billion, showing a 24.8 per cent fall from the level of such imports valued at $140.295 billion in April-October 2008.