Indian Exports down 0.34 per cent in November

Falling for fourth straight month, India’s merchandise exports contracted by 0.34 per cent in November 2019 as compared to same period of last year, mainly on account of poor shipments of petroleum, gems &and jewellery, and leather products. Trade deficit, which is the gap between imports and exports, narrowed to US$12.12 billion in November from US$17.58 billion a year ago.

As per the data released by the Commerce Ministry, merchandise exports fell by 0.34 per cent to US$25.98 billion in November 2019, as compared to US$26.07 billion in the same month a year ago. In Rupee terms, it was down by 0.90 per cent to Rs 1,85,644.81 crore in November 2019, as compared to Rs 1,87,335.14 crore in November 2018. Cumulative value of exports for the period April- November 2019-20 was US$211.93 billion as against US$216.23 billion during the period April- November 2018-19, down by 1.99 per cent. In Rupee terms, it was down by 1.04 per cent to Rs 14,89,793.87 crore from Rs 15,05,216.55 crore.

On the other hand, imports during November 2019 decreased by 12.71 per cent to UD$38.11 billion as compared to US$43.66 billion in November 2018. In terms of rupees, it was down by 13.20 per cent to Rs 2,72,274.45 crore from Rs 3,13,680.85 crore in November 2018. Cumulative value of imports for the period April- November 2019-20 was US$318.78 billion, as against US$349.96 billion during the period April- November 2018-19, registering a negative growth of 8.91 per cent. In rupee terms, it was Rs 22,39,900.18 crore, down by 8.11 per cent from Rs 24,37,538.61 crore in the same period last year.

Oil imports in November 2019 were US$11.06 billion, which were 18.17 per cent lower, compared to US$13.52 billion in November 2018. Oil imports in April- November 2019-20 were US$84.99 billion, which were 12.99 per cent lower from.US$97.69 billion, over the same period last year. Non-oil imports during November 2019 were estimated at US$27.04 billion, which was 10.26 per cent lower than non-oil imports of US$30.14 billion in November 2018. Non-oil and non-gold imports were US$24.10 billion in November 2019, down 11.96 per cent compared to the figure in the same period of last year. Non-oil and non-gold imports were US$213.19 billion in April- November 2019-20, down 7.35 per cent from November 2018-19.