New Delhi: Exports fell by 6.6 per cent for
the 13th month in a row in October, though the decline was not
as steep as witnessed in earlier months following the global
financial crisis.
According to the data released by the government, the
exports stood at USD 13.19 billion in October against
USD 14.13 billion in the same period last year.
The country's imports fell by 15 per cent during the month
to USD 21.9 billion.
As a result, the country's trade gap narrowed to USD 8.8
billion against USD 11.7 billion during the corresponding
period in 2008.
For the April-October period of the current fiscal, the
overseas shipments dropped by 26 per cent to USD 91 billion
from USD 123.0 billion in the same period last year.
The exports for 2008-09 now stands revised to USD 185
billion.
Exports started going down from October last year, a
month after the global economic situation worsened following
the collapse of Lehman Brothers.
PTI
First Published: Tuesday, December 01, 2009, 14:14