Indian exports increased 27.1% to 30.04 billion dollars in November; trade deficit at $ 22.91 billion



India’s merchandise exports jumped 27.16% to $ 30.04 billion in November on strong performance from sectors such as petroleum products, engineering products and electronics, data showed on Tuesday. official.

Exports amounted to USD 23.62 billion in November 2020.

Imports in November stood at $ 52.94 billion, an increase of 56.58 percent from inbound shipments of $ 33.81 billion in the month of the previous year.

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 were US $ 263.57 billion, up 51.34% from US $ 174.16 billion in the corresponding period last year.

Imports during the period totaled USD 384.34 billion, an increase of 74.84% from April-November 2020, when they amounted to USD 219.82 billion.

“The merchandise trade balance for April-November 2021 was estimated at (-) 120.76 billion USD compared to (-) 45.66 billion USD in April-November 2020, a decrease of (-) 164.49 percent” , indicates a published press release. by the ministry.

Exports of petroleum products in November climbed 154.22 percent to 3.95 billion USD on an annual basis. Foreign shipments of engineered products reached nearly US $ 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.

Shipments of organic and inorganic chemicals jumped 32.54 percent 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 percent to $ 14.67 billion.

Imports of vegetable oil rose 78.82 percent to $ 1.75 billion.

The statement further states 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 imports of services was 11.81 billion USD, representing a growth of 20.71% compared to November 2020 (9.78 billion USD).

India‘s overall exports (goods and services) in November were estimated at US $ 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 rose 22.26% in November to $ 23.68 billion.

Imports other than petroleum, gemstones and jewelry (gold, silver, and precious metals) amounted to $ 31.82 billion, growing 40.64% from $ 22.63 billion in November 2020 .

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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