Merchandise Exports Spike Around 27% On Year In November 2021

India's merchandise exports spiked 27.16% to USD 30.04 billion in November, official data showed on Tuesday. Imports in November were at USD 52.94 billion, showing an increase of 56.58% over the year-ago month. As per the data released by the Ministry of Commerce and Industry, November trade deficit stood at USD 22.91 billion. This compares with USD 10.19 billion in November 2020. Merchandise exports for April-November 2021 were at USD 263.57 billion, up 51.34% over USD 174.16 billion during the corresponding period last year. Imports during the period totalled USD 384.34 billion, an increase of 74.84% over April-November 2020 when it was USD 219.82 billion. The merchandise trade balance for April-November 2021 was estimated at USD (-) 120.76 billion as against USD (-) 45.66 billion in April-November 2020, which is a decline of (-) 164.49%, said a release issued by the ministry.

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