Exports dip 8.74% in November; commerce deficit at $9.87 billion

New Delhi, December 15

Exports in November fell 8.74% and trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32% to $33.39 billion.

Exports were recorded at $23.52 billion whereas imports were at $33.39 billion. Exports of petroleum products and engineering goods fell while that of gems and jewellery registered an increase. Imports of electronic goods and gold increased while that of crude oil declined.

“Close to 9% de-growth in exports is a reminder to act fast to reverse deceleration. Exporters need to be empowered by way of faster GST refunds and availability of raw material,” said Engineering Exports Promotion Council chairman Mahesh Desai. — TNS

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