Exports up 2.29 per cent to $20 billion in November; imports jump 10 per cent

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New Delhi | Published: December 15, 2016 6:51:22 PM

Expanding for the third straight month, exports rose 2.29 per cent to $20 billion in November on account of healthy growth in shipments of petroleum products and engineering goods.

tradeImports, however, contracted by 8.44 per cent to 1.1 billion, leaving a trade deficit of .17 billion. (Source: Reuters)

Expanding for the third straight month, exports rose 2.29 per cent to $20 billion in November on account of healthy growth in shipments of petroleum products and engineering goods. Exports of engineering products rose by 14.10 per cent, petroleum by 5.73 cent and chemicals by 8.3 per cent compared to the same month last year, according to official data released today.

Imports too increased by 10.44 per cent to $33 billion, leaving a trade deficit of $13 billion in November. The country’s merchandise exports during April-November period of the current fiscal too recorded a growth of 0.10 per cent to $174.92 billion.

Imports, however, contracted by 8.44 per cent to $241.1 billion, leaving a trade deficit of $66.17 billion. Gold imports during the month increased by 23.24 per cent to $4.36 billion. Oil imports in November grew by 5.89 per cent to $6.83 billion. Non-oil imports rose by 11.7 per cent to $26.18 billion.

Since December 2014, exports fell for 18 consecutive months till May 2016 due to weak global demand and slide in oil prices.

Shipments witnessed growth only in June this year, but again slipped in July and August. Exports started recording positive growth from September.

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