Exports jump 30% to $26 bn in November; trade deficit at $13.8 bn

Goods imports last month were $40.02 bn, a gain of 19.61% from a year ago

India's exports rose 30.55% to $26.19 billion in November, reversing the decline witnessed in October, helped by robust growth in shipments of gems and jewellery and engineering goods.

Exports had witnessed a decline of 1.12% to $23 billion in October this year, retreating from a six-month high growth rate in September.

On year-on-year basis, the country's outward shipments in November 2016 stood at $20.06 billion.

Imports too grew 19.61% to $40 billion in November from $33.46 billion in the same month last year, the Commerce Ministry data released today showed.

The trade deficit widened to $13.82 billion as against $13.39 billion in November 2016.

Meanwhile, gold imports dropped by 25.96% to $3.26 billion last month.

Oil imports and non-oil imports in November grew 39.14% and 14.57% to $9.55 billion and $30.47 billion respectively.

Cumulative exports during April-November 2017-18 increased by 12.01% to $196.48 billion, while imports grew 21.85% to $296.45 billion, leaving a trade deficit of nearly $100 billion.

In November, gems and jewellery, drugs and pharmaceuticals, organic and inorganic chemicals and engineering exports grew by 32.69%, 13.39%, 54.28% and 43.76%, respectively.