Business · Trade · 50 mins ago
India's October goods trade deficit hits one-year high of $39.88 billion
India's goods trade deficit reached $39.88 billion in October, its highest level in a year.
Exports rose to $49.47 billion, while imports climbed to $89.35 billion, both up from September.
Imports grew faster than exports, pushing the deficit above economists' forecast of $32.25 billion and September's $30.21 billion.
India imports nearly 85% of the oil it needs, and disruptions to global energy markets linked to the West Asia conflict have raised its import costs.
October exports set a monthly record, as India has worked to diversify its markets and put new trade deals into effect.
An EU trade agreement is expected to take effect early next year, though the figures do not say how it may affect the deficit.
India’s merchandise trade deficit reached a one-year high of $39.88 billion in October, according to a Reuters calculation based on government data.
The deficit was wider than economists’ forecast of $32.25 billion and September’s $30.21 billion.
October goods exports rose to $49.47 billion from $44.40 billion in September.
Imports rose to $89.35 billion from $74.61 billion, amid festive-season demand and higher oil prices.
Trade Secretary Rajesh Agrawal said India recorded its highest-ever monthly goods exports in October 2026.
- Who
- India.
- What
- The merchandise trade deficit rose to $39.88 billion, a one-year high.
- When
- October 2026; the figures were released on November 13, 2026.
- Where
- India.
- Why
- Festive-season demand and higher oil prices pushed up imports. The article also cited disruptions in the global energy market linked to the West Asia conflict.
This story does not have two clearly opposing sides.
India’s merchandise exports were $44.40 billion and imports were $74.61 billion, with a trade deficit of $30.21 billion.
Merchandise exports rose to $49.47 billion and imports to $89.35 billion, taking the deficit to $39.88 billion.
The October trade figures were released.
- October trade deficit
- $39.88 billion
- September trade deficit
- $30.21 billion
- October merchandise exports
- $49.47 billion
- October merchandise imports
- $89.35 billion
- Economists’ forecast for October deficit
- $32.25 billion
- India’s oil needs imported
- Nearly 85%
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What people are saying
India recorded its highest-ever monthly goods exports in October 2026,