Exports grow for first time in over a year in November

The country's exports turned around in November 2009 after falling for 13 months in a row, posting a growth of 18.2 per cent to touch $13.19 billion.

Overseas shipments were $11.16 billion in November 2008.

However, during April-November this fiscal, merchandise consignments dropped by 22.3 per cent to $104.24 billion compared to $134.2 billion in the same period of 2008-09, according to the official data released today.

The downfall in exports started in October 2008 due to impact of the global economic downturn, which became worse after the collapse of iconic US banker Lehman Brothers.

Meanwhile, imports continued to slide for the 11th straight month and dipped by 2.6 per cent to $22.88 billion in November from $23.48 billion in the same month in 2008.

Imports were valued at $170.43 billion in April-November 2009-10 against $234.35 billion in the first eight months of last fiscal, a contraction of 27.3 per cent.

The trade deficit in the month under review narrowed to $9.69 billion from $12.32 billion in November 2008.