Exports decline for the first time in 5 years

NEW DELHI: India's exports declined in October this fiscal, for the first time in five years, due to the global slowdown, a senior Commerce Ministry official said on Monday.

"For the first time in the last five years, in October, there has been a decline of over 15 per cent (in exports) in dollar terms," Director General of Foreign Trade R S Gujral said at a function organised CAPEXIL here.

Barring the export of the petroleum products, "there has been a decline of over 20 per cent," he said.

Growth in April-October has been 21.5 per cent, down from 30.9 per cent for the April-September period.

Trade data for October will officially be released on December 1.