Exports shrink by 16.6% to $29.78 bn in Oct

India’s exports shrank by 16.65 per cent to $29.78 billion in October 2022 against the corresponding period of last year.

According to Commerce Ministry data, imports though rose to $56.69 billion in October 2022 as against $53.64 billion in October 2021.

In the April-October 2022 period, exports grew 12.55 per cent to $263.35 billion.

Imports during the same period rose 33.12 per cent to $436.81 billion, the data showed.

Rising global inflation, Russia-Ukraine war, growing China-Taiwan crisis and supply chain disruptions have impacted economic growth worldwide, thus leading to shrinking demands.

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