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India logs USD 13.59bn in trade surplus for Apr-Nov as exports dip 14%

By TIOL News Service

NEW DELHI, DEC 16, 2020: INDIA'S exports fell by 14.03% in April-November 2020-21 to USD 304.25 billion, while imports fell by 29.96% to USD 290.66 billion, as per the data released by the Ministry of Commerce and Industry on Tuesday.

The merchandise exports segment contracted for the second consecutive month in November by 8.84% which was sharper than the 5.1% drop in October at USD 23.52 billion, dragged by key sectors like petroleum goods, engineering, chemicals and gems and jewellery.

In rupee terms, exports stood at Rs 1.75 lakh crore in November 2020, as compared to Rs 1.84 lakh crore in the 2019 period, registering a negative growth of 5.20%.

India's merchandise trade deficit touched a 10-month high of USD 9.87 billion in November though it narrowed from USD 12.75 billion in the corresponding month last year.

Total merchandise imports also declined 13.32% to USD 33.39 billion (Rs 2.48 lakh crore) in November, which is a decline of 13.32% in dollar terms and 9.96% in rupee terms compared to the year-before period.

Non-oil and non-gold imports shrank 1.67% in November, indicating an economic recovery.

Meanwhile, imports of oil, transport equipment, machinery and coal declined last month.


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