India October Trade Deficit Hits One-Year High
India merchandise trade deficit widened to a one-year high of $39.88 billion in October as festive gold purchases and higher energy costs drove up imports. Gold imports nearly tripled due to pre-Diwali demand.
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India recorded a merchandise trade deficit of $39.88 billion in October, its widest gap in a year, driven by festive-season Gold purchases and elevated energy costs. The shortfall exceeded the $32.25 billion forecast in a Reuters poll, widening from $30.21 billion in September. The surge reflects strong seasonal domestic demand paired with persistent import pressures from oil and precious metals.
