Exports up by 21.3 p.c. to $18 bn in October

• The Hindu India's merchandise exports rose by 21.3 per cent to $ 18 billion in October over the year- ago period, boosting hopes that the country may be able to reach the $ 200 billion target fixed for the current fiscal.
• Imports during the period grew by 6.8 per cent to $ 27.68 billion, leaving a trade deficit of $ 9.72 billion
• The rate of expansion in exports has outpaced imports growth for the first time in last 3-4 years. Exports in October last year were valued at $ 14.8 billion while imports were worth 25.9 billion.
• The growth in overseas shipments is attributed to improved demand in the US and EU, besides increase in exports to African and Latin American countries.
• For the first seven months (April-October) too, exports rose at a faster pace of 26.8 per cent at $ 121.3 billion against 26 per cent growth in imports at $ 194.1 billion.
• All the big ticket items like engineering goods, gems and jewellery, chemicals and petroleum products have registered positive growth in the first seven months of the fiscal, the official said.
• Continuous upward trend witnessed in exports has made the government officials optimistic of meeting the $ 200 billion export target this fiscal. The target was announced in the Foreign Trade Policy in August last year.