India's export drops; trade deficit widened to $14 billion in October

A mobile crane carries a container at Thar Dry Port in Sanand in Gujarat India. Credit Reuters

The trade deficit has widened by more $31 billion in the first seven months of the current financial year to $86.15 billion, which could put pressure on the current account deficit of Asia's third largest economy.

India's trade deficit widened to its highest in almost three years in October, government data showed on Tuesday, as export growth contracted for the first time after more than a year.

Merchandise exports for October fell 1.12% from a year ago to $ 23.1 billion.

However for the April-October 2017-18 period exports have exhibited a growth of 9.62 per cent in dollar terms.

Cumulative value of exports for the period April-October 2017-18 stood at $170.29 billion (Rs1,097,858.68 crore) against $155,34 billion (Rs1,039,297.59 crore), showing a growth of 9.62 per cent in dollar terms and a 5.63 per cent growth in rupee terms over the same period previous year.

Telangana ASI suspended over getting massage done by woman home guard
The suspension orders were issued after an inquiry conducted by the district Superintendent of Police SM Vijaya Kumar. Earlier, on November 4, a video clip of a police inspector receiving a massage from a male home guard went viral.

Prisoner alleges Ram Rahim being given extra time to meet family
He, however, said neither he nor any other inmate has ever seen Ram Rahim in jail and only heard about him from officials. Haryana's jail minister, however, denies the allegation. "Jail authorities say he works, but we don't believe it".

New discovery shows our prehistoric ancestors were making wine 8000 years ago
The jars were most likely for storing wine in these areas as they depicted images of grape clusters and a man dancing. This finding makes it the oldest know evidence of wine-making in the world, at 6000 BC in the Neolithic period.

Pakistan's trade deficit increased to a whopping $12.1 billion during the first four months of the current fiscal year, Pakistan Bureau of Statistics (PBS) said on Monday.

As a result, non-oil/non-gold imports rose only 4.9 per cent, sharply lower than the 19.8 per cent in September and 20 per cent in August, indicating industrial production would suffer again in October.

Cumulative value of imports for the period April-October 2017-18 stood at $256.43 billion (Rs1,653,435.01 crore) against $209.83 billion (Rs1,403,911.51 crore), showing a growth of 22.21 per cent in dollar terms and 17.77 per cent growth in rupee terms over the same period a year ago. The fall in total exports by 1.1% year-on-year to $23.10 billion and rise in total imports by 7.6% at $37.12 billion widened the trade deficit even further to $14.02 billion up from $8.98 billion in September and $11.13 billion last year. Trade deficit increased to $3.04 billion in October 2017, higher by 35.88 percent over $2.2 billion for the same a year before.

In October, petroleum, engineering and chemicals exports grew by 14.74 per cent, 11.77 per cent and 22.29 per cent, respectively.

Related:

Comments

Latest news

Xbox One X Sells 80000 In The First Week In The UK
You can head over to the Black Friday page on Microsoft's website to find out more about the many deals that it's offering. If you're one of the many fans looking for Black Friday deals on Xbox One X bundles, then you're out of luck.

Lebron James: "Deshaun Watson should be a Brown"
The Cleveland Browns had three first-round picks in the 2017 NFL Draft, but they chose to use none of them on a quarterback. Cleveland, however, opted to trade that pick to the Houston Texans , who selected Watson in the spot instead.

Tennessee State football player sucker punches coach
Lee was majoring in criminal justice and was named to the Ohio Valley Conference Commissioner's Honor Roll. Greenstone, the program's strength and conditioning coach, twice before Greenstone falls to the ground.

USA directly supports IS terrorists in Syria - Russian Defense Ministry
The ministry also said that the coalition's aviation tried to disturb Russia's Aerospace Forces near Abu Kamal to ensure safe exit of terrorists.

It's possible to obtain root access on OnePlus phones without unlocking
OnePlus has been alerted to the exploit and CEO Carl Pei has confirmed that the company is looking into it. Alderson, with the help of cybersecurity experts, was able to root a OnePlus device with a few commands.

Connected toys have 'worrying' security issues
Which? found that there was no authentication required between the toys and the devices they could link with via Bluetooth. Which? found someone could hack the toy via its unsecured Bluetooth connection and make it play their own voice messages.

Real Madrid lower asking price for Manchester United target Gareth Bale
Okay, he's picked up a lot of injuries but generally the Premier League is much tougher than La Liga in terms of the physicality. He bucked the trend of boring English footballers who don't fancy life outside the M25 and chose to play overseas .

Geely finalises purchase of flying vehicle maker Terrafugia
However, the company did not disclose any financial details concerning the deal, The China Daily newspaper reported today. A new research institute has already been set up, and the US-based engineering team's numbers have tripled.

Justice League's 'sexy' Amazon costumes create uproar
The most important thing is that Wonder Woman's character remains as strong and kick-ass as she was in her standalone film. Wonder Woman's costumes were designed by Lindy Hemming , while Michael Wilkinson worked on Justice League .

New Super Smash Bros Trademark Might Be Hinting At New SSB Game?
However, with Nintendo taking a lot of time in announcing Super Smash Bros . for the Nintendo Switch, it could mean two things. The rumors about Super Smash Bros . for Switch emerged from January 2016, when the console still had the Nintendo NX codename.

The Trump-Xi Meeting in Beijing, Very Briefly
The source told ESPN there is surveillance footage of the players shoplifting from three stores inside a high-end retail center. This source also noted that the charges against the players have been reduced and their case is proceeding toward a resolution.

Euro zone growth, eclipsing U.S. economy, set to be best in decade
At 4.30 am ET, the Office for National Statistics is slated to issue United Kingdom consumer and producer prices for October. The locomotive of the euro-zone released the data earlier and it came out at 0.8%, well above expectations.

Land Encroachment Case: Kerala HC rejects Thomas Chandy's plea
Chandy had also allegedly encroached on the backwaters to construct a parking space for the resort, according to the collector's report.

BrahMos Supersonic Missile to be Fired From Sukhoi-30MKI This Week
The Army, Navy and IAF have shown their preference for BrahMos and have placed orders worth Rs 27,150 crore for the missile. As per sources, the defence ministry has planned to test-fire the impactful missile over the Bay of Bengal later this week.

Another Body Found in Tampa Neighborhood Where 3 Were Killed
The most recent death is being treated as related to the other three murders, which remain unsolved, police said. Police have released video of a person of interest running during the night of the first murder.

Other news