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October- Import & Export UPSC NOTE

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  Why in news India's goods exports surged by 17.25% in October 2024, reaching $39.2 billion , marking the second-best export figure th...

 Why in news

  • India's goods exports surged by 17.25% in October 2024, reaching $39.2 billion, marking the second-best export figure this year. 

  • This follows a sluggish 1% growth in the first half of the year.

  • India’s merchandise imports hit a record high of $66.34 billion in October, rising by 3.9% compared to the previous month. 

  • This was driven mainly by higher imports of gold and petroleum

  • The trade deficit widened to $27.14 billion in October, the second highest this year and the third highest ever.

  • Although gold imports dropped slightly by 1.4%, they were 62% higher than in September

  • Petroleum imports surged by 13.3% year-on-year to $18.3 billion

  • In contrast, petroleum exports dropped by 22.1% to $4.58 billion in October

  • India's export growth was driven by strong performances in sectors like engineering goods, chemicals, electronics, textiles, and ready-made garments


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: October- Import & Export UPSC NOTE
October- Import & Export UPSC NOTE
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Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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