India's merchandise exports in October shrunk 17.5 per cent year-on-year to $21.35 billion, leaving the shipment in the negative territory for the eleventh consecutive month due to a persisting weak global demand. Imports contracted an annual 21.15 per cent to $31.1 billion, also for the eleventh straight month, according to data released by the Commerce Ministry on Monday.

Japan racked up a trade surplus last month as exports of cars, computers and other goods grew, while imports dipped on falling oil prices. Government data released Thursday showed that the trade surplus totaled 111.5 billion yen ($903 million) in October.

Difficult economic conditions in some plane-buying markets, but demand in U.S., China, remains resilient. Currency fluctuations have contributed this as well.