Trade snapshot

Economic slowdown in the US and Europe has started to pinch India's exports growth that plunged to 24-month low of 10.8 per cent at $19.9 billion in October 2011. This led to expanded trade deficit to a “worrying“ four-year high at $19.6 billion in October. This is the slowest monthly exports growth this year after it touched 81 per cent growth in July. During October 2011, imports grew by 21.7 per cent at $39.5 billion and deceleration in imports is likely to set in beginning this month with lower imports of intermediaries used in export manufacturing products. Surging crude oil, Coal and veg etable oil imports contributed to high imports.
Exports growth that peaked at 81 per cent in July began slowing down to 44.25 per cent in August and 36.36 per cent in September before dipping to 10.8 per cent in October 2011.