Exports up 10.8% in Oct; trade gap widens to 'worrying' level

India's exports grew year-on-year by 10.8 per cent to $19.9 billion in October while imports expanded at a sharper rate, leaving a big trade deficit of $19.6 billion.

Imports increased by 21.7 per cent to $39.5 billion in October, according to data released by Commerce Secretary Rahul Khullar in New Delhi on Tuesday.

For the cumulative April-October period, exports aggregated to $179.8 billion, showing a handsome growth of 46

per cent, thanks to sterling trend witnessed in the previous months of the current fiscal.

Imports for the seven-month period stood at $273.5 billion growing by 31 per cent, while leaving the trade gap of $93.7 billion.

"Exports growth continues to look good and every sector is posting good growth," Khullar told reporters here.

However, he said, the balance of trade "is something to be very worried about because at this rate you are going to breach the $150 billion mark (for the fiscal 2011-12)."