November 11, 2013 9:26 PM

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Global recovery pushes October exports to two-yr high

Recovery in global markets helped the country post a 13.47 per cent increase in exports, the highest growth in the last two years, to USD 27.2 billion in October. The trade deficit last month, however, widened from September on account of rise in gold imports. Last time in September 2011, India's shipments increased by 36 per cent. Gold and silver imports increased to 1.3 billion US Dollars in the month under review from USD 0.8 billion in September 2013. Trade deficit jumped to USD 10.5 billion Dollars as against 6.76 billion in September this year. The trade deficit in October 2012 was at 20.2 dollars billion.Oil imports grew by 1.7 per cent year-on-year to 15.2 billion dollars. Overall imports declined by 14.5 per cent to 37.8 billion dollars in October as compared to the same period last year. Commerce Secretary S R Rao said improvement in western markets have helped in pushing the exports.

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