#New Delhi

India’s exports contracted 11.8 per cent to USD 34.38 billion in October on account of the impact of high tariffs by the US, while the trade deficit widened to a record high of USD 41.68 billion mainly due to a jump in gold imports.

According to government data released on Monday, the country’s imports jumped 16.63 per cent to USD 76.06 billion due to high inbound shipments of the yellow metal, silver, cotton raw/waste, fertiliser, and sulphur.

In September also, the trade gap widened to USD 31.15 billion, the highest in over a year.

While gold imports rose about 200 per cent to USD 14.72 billion, silver rose 528.71 per cent to USD 2.71 billion during October.

Crude oil imports dipped to USD 14.8 billion in October from USD 18.9 billion in the same month last year. PTI

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