NEW DELHI, Nov 15 Reuters India39;s merchandise trade deficit in October widened to a record level, partly due to a sharp rise in gold imports during the festival season, trade ministry officials said on Wednesday.

The trade deficit widened to 31.46 billion last month, much higher than economists39; expectation of 20.50 billion, according to a Reuters poll.

Merchandise exports stood at 33.57 billion, while imports shot up to 65.03 billion, compared with exports of 31.60 billion and imports of 57.91 billion in October last year, government data showed.

In the previous month, merchandise exports were 34.47 billion, while imports stood at 53.84 billion.

Gold imports leapt in October 95 yearonyear, Satya Srinivas, a commerce ministry official said. In October, gold imports totalled 7.23 billion, according to Reuters calculation.

Merchandise exports for the period AprilOctober totalled 244.89 billion, while imports for the same period reached 391.96 billion, the data showed.

India39;s monthslong festival demand peaks during Diwali, the festival of lights, which was celebrated over the weekend.

Services exports in October were 28.70 billion, while imports were 14.32 billion. In September, services exports were29.37 billion and imports were 14.91 billion.

Reporting by Shivangi Acharya Editing by Christina Fincher and Mark Potter

Source Reuters