India trade deficit at its highest in 16 months Published October 12, 2012 India trade deficit at its highest in 16 months US$18.1b shortfall due largely to 10.8% drop in exports BT 20121012 INDIA12 208573 Box traffic: Europe's debt crisis has weighed on global growth and hurt demand for exports from emerging nations. - PHOTO: REUTERS [NEW DELHI] India's trade deficit widened to the highest level in more than a year in September as a struggling world economy contributed to a drop in the nation's exports. Merchandise shipments fell 10.8 per cent from a year earlier to US$23.7 billion, the Trade Ministry said yesterday as it released provisional figures. Imports rose 5.1 per cent to US$41.8 billion, leaving a deficit of US$18.1 billion. The shortfall is the highest in 16 months, based on historical government data released on April 19 and official monthly trade statements. Europe's debt crisis has weighed on global growth and hurt demand for exports from emerging nations, prompting South Korea to cut (more...)