Exports fell by 6.6 per cent for the 13th month in a row in October, though the decline was not as steep as witnessed in earlier months following the global financial crisis.
According to the data released by the government, the exports stood at USD 13.19 billion in October against USD 14.13 billion in the same period last year.
The country’s imports fell by 15 per cent during the month to USD 21.9 billion.
As a result, the country’s trade gap narrowed to USD 8.8 billion against USD 11.7 billion during the corresponding period in 2008.
For the April-October period of the current fiscal, the overseas shipments dropped by 26 per cent to USD 91 billion from USD 123.0 billion in the same period last year.
The exports for 2008-09 now stands revised to USD 185 billion.
Exports started going down from October last year, a month after the global economic situation worsened following the collapse of Lehman Brothers.
