India’s October trade deficit widens to $ 17.13 b

NEW DELHI (Reuters): India’s October trade deficit widened to $ 17.13 billion due to a higher oil import bill, the country’s Trade Ministry said in a statement on Thursday.

In September, the trade deficit was at $ 13.98 billion. India, the world’s third-biggest crude importer, buys over 80% of its oil needs from overseas markets.

The country’s oil imports in October totalled $ 14.21 billion, up 52.64% from a year earlier, the data showed.