India’s exports rise 27.1% to $30.04 bn in Nov; trade deficit at $22.91 bn

India’s merchandise exports jumped 27.16 per cent to USD 30.04 billion in November on the back of good performance by sectors like petroleum products, engineering goods and electronic items, official data showed on Tuesday.

The exports stood at USD 23.62 billion in November 2020.

Imports in November were at USD 52.94 billion, showing an increase of 56.58 per cent over inbound shipments of USD 33.81 billion in the year-ago month.

Gold imports rose nearly 40 per cent to USD 4.22 billion as against 3.02 billion in November 2020.

As per the data released by the Ministry of Commerce and Industry, November trade deficit stood at USD 22.91 billion. This compares with USD 10.19 billion in November 2020.

Merchandise exports for April-November 2021 were at USD 263.57 billion, up 51.34 per cent over USD 174.16 billion during the corresponding period last year.

Imports during the period totalled USD 384.34 billion, an increase of 74.84 per cent over April-November 2020 when it was USD 219.82 billion.

“The merchandise trade balance for April-November 2021 was estimated at USD (-) 120.76 billion as against USD (-) 45.66 billion in April-November 2020, which is a decline of (-) 164.49 per cent,” said a release issued by the ministry.

Exports of petroleum products during November climbed 154.22 per cent at USD 3.95 billion on a yearly basis. Outward shipments of engineering goods rose to nearly USD 8 billion, up about 37 per cent over the same month last year.

As per the data, exports of electronic goods rose from USD 1.12 billion in November last to USD 1.45 billion during the month under review, up 29.83 per cent.

Shipments of organic and inorganic chemicals jumped 32.54 per cent to USD 2.24 billion.

On the imports front, inbound shipments of ‘coal, coke and briquettes’ stood at USD 3.57 billion, rising 135.81 per cent over November 2020.

Imports of ‘petroleum, crude and products’ too surged 132.43 per cent at USD 14.67 billion.

The import of vegetable oil shot up by 78.82 per cent to USD 1.75 billion.

The release further said the estimated value of services export for November 2021 was USD 20.33 billion, up 16.88 per cent over the same month last year (USD 17.39 billion).

The estimated value of services import was USD 11.81 billion, a growth of 20.71 per cent over November 2020 (USD 9.78 billion).

India’s overall exports (merchandise and services) in November were estimated to be USD 50.36 billion, exhibiting a growth of 22.80 per cent over the same period last year.

Non-petroleum and non-gems and jewellery exports in November rose 22.26 per cent to USD 23.68 billion.

Non-petroleum, non-gems and jewellery (gold, silver and precious metals) imports were USD 31.82 billion, a growth of 40.64 per cent from USD 22.63 billion in November 2020.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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