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India’s goods trade deficit in October shatters records, beating estimates, as gold imports surge 200%
India’s goods trade deficit hit an all-time high of $41.7 billion in October as gold imports surged on festive season demand, while exports to U.S. bore the brunt of steep tariffs. The deficit, which was sharply wider than Reuters poll estimates of $28.8 billion, topped the previous all-time high of $37.8 billion in November 2024, according to LSEG data. During October, India imported gold worth of $14.7 billion, up nearly 200% from a year earlier, data from the country’s commerce ministry released Monday showed. Indian consumers are estimated to have bought gold worth $11 billion during the 5-day festival period ... (full story)
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