India's goods exports worth $33.9 bn, imports worth $54.48 bn in Nov

India’s overall exports in the April-November period this year were estimated to be worth $499.46 billion, exhibiting a negative 1.39 per cent growth YoY. Overall imports in the eight-month period were worth an estimated $560.90 billion, exhibiting a negative 7.58 per cent growth YoY.

The overall trade deficit has shown considerable improvement between April and November. Overall trade deficit during the period was an estimated $61.44 billion compared to $100.38 billion during the corresponding period last year, registering a decline of 38.79 per cent, an official release said.

Merchandise exports in November were worth $33.90 billion compared to $34.89 billion in November 2022. Such imports in November were worth $54.48 billion compared to $56.95 billion in the same month last year.

Under merchandise exports, 15 of the 30 key sectors exhibited positive growth in November compared to same period last year. These include cotton yarn and fabrics, made-ups and handloom products that recorded a growth of 6.33 per cent, and handicrafts and exclusive hand-made carpets that saw a growth of 1.17 per cent.

Under merchandise imports, 15 out of 30 key sectors exhibited negative growth in November. These include raw and waste cotton (minus 37.4 per cent); and textile yarn, fabric and made-up articles (minus 7.54 per cent).

Merchandise exports for the eight-month period were worth $278.80 billion against $298.21 billion during the corresponding period last year. Merchandise imports during the period were worth $445.15 billion compared to $487.42 billion during the same period last year.

The merchandise trade deficit for the April-November period this year was an estimated $166.35 billion compared to $189.21 billion during the same period last year, registering a decline of 12.08 per cent.

Under merchandise exports, 14 of the 30 key sectors exhibited positive growth during the eight-month period compared to the same period last year. These include cotton yarn, fabrics, made-ups, handloom products etc. (5.72 per cent).

Under merchandise imports, 16 of the 30 key sectors exhibited negative growth during the eight-month period compared to the same period last year. These include raw and waste cotton (minus 63.97 per cent); textile yarn and fabric, made-up articles (minus 15.57 per cent); and leather and leather products (minus 9.33 per cent).

ALCHEMPro News Desk (DS)