Exports increased by 27.16% to reach 30.04 billion dollars in November; trade deficit at $ 22.91 billion
NEW DELHI: India’s merchandise exports jumped 27.16% to $ 30.04 billion in November on strong performance from sectors like petroleum products, engineering products and electronics, according to the official data released on Tuesday.
Exports amounted to $ 23.62 billion in November 2020.
Imports in November stood at $ 52.94 billion, an increase of 56.58% from inbound shipments of $ 33.81 billion the previous month.
Gold imports increased nearly 40% to $ 4.22 billion from $ 3.02 billion in November 2020.
According to data released by the Ministry of Commerce and Industry, the November trade deficit stood at $ 22.91 billion. This compares to $ 10.19 billion in November 2020.
Merchandise exports from April to November 2021 amounted to $ 263.57 billion, up 51.34% from $ 174.16 billion in the corresponding period last year.
Imports during the period totaled $ 384.34 billion, an increase of 74.84% from April-November 2020, when they stood at $ 219.82 billion.
“The merchandise trade balance for April-November 2021 was estimated at (-) 120.76 billion dollars against (-) 45.66 billion dollars in April-November 2020, a decrease of (-) 164.49 percent, “said a released statement. by the ministry.
Exports of petroleum products in November climbed 154.22% to $ 3.95 billion on an annual basis. Foreign shipments of engineered products reached nearly $ 8 billion, up about 37% from the same month last year.
According to the data, exports of electronics products rose from $ 1.12 billion last November to $ 1.45 billion in the month under review, up 29.83 percent.
Organic and inorganic chemical shipments jumped 32.54% to $ 2.24 billion.
On the import front, inbound shipments of “coal, coke and briquettes” amounted to $ 3.57 billion, up 135.81% from November 2020.
Imports of “petroleum, crude and products” also jumped 132.43% to $ 14.67 billion.
Imports of vegetable oil jumped 78.82% to $ 1.75 billion.
The statement further indicates that the estimated value of services exports for November 2021 was $ 20.33 billion, up 16.88% from the same month last year ($ 17.39 billion).
The estimated value of services imports was $ 11.81 billion, a growth of 20.71% from November 2020 ($ 9.78 billion).
India’s aggregate exports (goods and services) in November were estimated at $ 50.36 billion, up 22.80 percent from the same period last year.
Exports of non-petroleum products and other than precious stones and jewelry in November rose 22.26% to $ 23.68 billion.
Imports other than petroleum, precious stones and jewelry (gold, silver and precious metals) amounted to $ 31.82 billion, a growth of 40.64% from $ 22.63 billion in November 2020.