Exports decline for 11th month in a row

Exports contracted for the eleventh straight month, but a sharper decline in imports helped narrow the trade deficit Indian stock market astrology prediction

The bad news was the 17.5% fall in exports to $21.3 billion in October, data released by the commerce department showed. But, the good news was that the pace of decline had slowed compared to over 20% contraction in August and September. But, it may be early to spot a trend of the worst being over. Government officials have blamed the slowdown in several parts of the world for fall in exports. Similarly , during October, imports fell over 21% to $31.1billion on account of a fall in commodity prices. Lower crude petroleum prices pushed down the import bill by more than 45% to $6.8 billion in October, while non-oil imports fell almost 10% to $24 billion. 

The fall in exports was largely due to fall in petroleum product exports, again a function of international oil prices.While overall exports fell by $4.5 billion, $3.25 billion was accounted for by oil products such as petrol and diesel. The other contributors were gems and jewellery and engineering goods with total shipments in October valued at $4.6 billion Jackpot Stocks Trading Tips