Trade deficit narrows to $20.58 bn in Nov

New Delhi, December 15

India’s merchandise exports slipped by 2.83% to $33.90 billion in November while the trade deficit narrowed to $20.58 billion, according to government data. Imports also fell by 4.33% to $54.48 billion in November, the data released by the commerce ministry on Friday showed.

Exports, imports decline

• Exports slipped by 2.83% to $33.90 billion
• Imports also fell by 4.33% to $54.48 billion
• Exports in April-Nov fell by 6.51% to $278.8 billion
• Imports were also down by 8.67% to $445.15 billion in Apr-Nov period

Cumulatively, the country’s merchandise exports in April-November FY2023-24 contracted by 6.51% to $278.8 billion.

Imports were also down by 8.67% to $445.15 billion in the eight-month period due to a fall in oil imports. Oil imports dipped to $113.65 billion as against $139.29 billion in April-November 2022-23.

The trade deficit during the eight-month period was $166.35 billion against $189.21 billion in the corresponding period last year.