Trade Deficit Widens In October As Exports Fall

India’s trade deficit widened in October as exports saw a sharp fall amid a global growth slowdown. The trade gap widened to $26.91 billion in October compared with $25.7 billion in September 2022, according to the Ministry of Commerce and Industry data. Exports contracted 6.6% year-on-year to $29.8 billion.Imports rose 5.7% to $56.7 billionOn a month-on-month basis, exports contracted 16% in October, while imports contracted 7.3%.