There has been a decline in imports and exports in India last month. The country's exports dropped 1.11 percent to $ 26.38 billion in October. At the same time, the country's imports fell by 16.31 percent to $ 37.39 billion. Apart from this, the trade deficit of the country has also declined. The decrease in exports is a setback on the economic front, while the reduction in import and trade deficit is good news for the Indian economy.

Statistics of Import and Export
According to the Ministry of Commerce and Industry, in October, exports of non-petroleum and non-jewelery items stood at $ 19.04 billion as compared to $ 18.93 billion in October last year. Thus, the export of these items increased by 0.59 percent. At the same time, the country's imports stood at $ 37.39 billion in October, while in the same month last year, India imported $ 44.68 billion. Thus, imports fell by 16.31 percent.

The ministry said that in October 2019, oil worth $ 9.63 billion was imported, which is 31.74 percent less than the same month of the previous year because in October 2018, India imported oil worth $ 14.11 billion. Imports of non-oil goods stood at $ 27.76 billion in October this year as compared to $ 30.57 billion in the same month last year.

Trade Deficit also reduced
The country's trade deficit was $ 11.01 billion in October this year due to a drop in imports over exports, compared to $ 18 billion in the same month last year. Explain that in the April-October period of the current financial year, the country's exports decreased by 2.21 percent to $ 185.95 billion and imports fell by 8.37 percent to $ 280.67 billion. Due to this the trade deficit of the country has been $ 94.72 billion during this period.