MUMBAI, Nov 16 (Reuters): The sharp widening in India's merchandise trade deficit in October to a record level, fuelled by a broad-based rise in imports, will likely be an outlier, analysts said.
India's merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print in the prior month. Imports jumped from $65 billion from $53.8 billion.
"On a sequential basis, about 70 per cent of the uptick in imports in October is led by oil, gold and silver imports," Morgan Stanley said.
India's record merchandise trade deficit in Oct likely to be a one-off
FE Team | Published: November 16, 2023 23:29:11
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