Merchandise exports grew by 17.86 per cent in October on a year-on-year basis, official data showed on Thursday.

Exports in October 2018 were US $ 26.98 Billion, as compared to US $ 22.89 Billion in October 2017, exhibiting a positive growth of 17.86 per cent, said an official release.

Overall exports (Merchandise and Services combined) in April-October 2018-19* are estimated to be USD 308.32 Billion, exhibiting a positive growth of 17.17 per cent over the same period last year, it added.

Overall imports in April-October 2018-19* are estimated to be USD 374.88 Billion, exhibiting a positive growth of 18.88 per cent over the same period last year, the release said.

As per the data, engineering goods, petroleum products, gems and jewellery and organic and inorganic chemicals and drugs and pharmaceuticals commodity groups showed a high export growth during the month under review.

On the other hand, imports in October grew by 17.62 per cent to $44.11 billion.

"Oil imports in October 2018 were $14.21 billion, which was 52.64 per cent higher in dollar terms compared to $9.31 billion in October 2017," the statement said.

Lately, global Brent price has increased by 39.66 per cent in October 2018 vis-à-vis October 2017.

"Non-oil imports in October 2018 were estimated at $29.90 billion which was 6.05 per cent higher in dollar terms, compared to $28.19 billion in October 2017," the statement said.

"Non-oil and non-gold imports were $28.21 billion in October 2018, recording a positive growth of 11.77 per cent, as compared to non-oil and non-gold imports in October 2017."