Trade deficit narrows to $11.01 billion in October on lower oil imports

India’s trade deficit narrowed to $11.01 billion in October from $18.0 billion a year ago, helped by lower oil imports, the trade ministry said on Friday.

Oil imports fell 31.74 per cent to $9.63 billion in October from $14.11 billion in the year-ago period.

Merchandise exports fell 1.11 per cent to $26.38 billion in October compared with a year earlier, while imports were down 16.31 per cent at $37.39 billion, the data showed.