Department of Commerce – Ministry of Commerce and Industry, released October 2022 trade information(dt. 15, November 2022) that shows India has more trade deficit compared to last year.
From the released information, merchandise import is about 56.69 Billion USD whereas merchandise export is about 29.78 Billion USD. In the service sector, service imports is about 16.3 Billion USD whereas service exports is about 28.58 Billion USD.
Trade Deficit – October 2022:
Total exports is 58.36 Billion USD, whereas imports is 73.00 Billion USD. This turns into a trade deficit of about 14.63 Billion USD.
In October 2021 trade deficit was 9.18 Billion USD.
This information can be found in the below source.
Source:
https://commerce.gov.in/trade-statistics/latest-trade-figures/
(Information in this link may get updated, above information is from data released on November 15, 2022).