India's trade deficit narrows to $9.87 billion, exports fall 8.74% in November

India's trade deficit narrows to $9.87 billion, exports fall 8.74% in November

For April-November period of the current fiscal, exports dropped by 17.76 per cent to $173.66 billion, while imports declined by 33.55 per cent to $215.69 billion, resulting in a trade deficit of $42 billion

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India's trade deficit stood at $9.9 billion in NovemberIndia's trade deficit stood at $9.9 billion in November
BusinessToday.In
  • Dec 15, 2020,
  • Updated Dec 15, 2020 9:48 PM IST

India's exports declined 8.74 per cent to $23.52 billion in the month of November, while imports fell by 13.32 per cent to $33.39 billion, as per the data released by the Ministry of Commerce and Industry on Tuesday. Exports segment contracted for the second consecutive month in November, sharper than a drop of 5.1 per cent in October, led by key sectors like petroleum, engineering, chemicals and gems and jewellery. Exports rose by 6 per cent in September after contracting for six months in a row.

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With the contraction in export and import, the country's trade deficit hit a 10-month high of $9.9 billion in November.

In rupee terms, exports stood at Rs 1.75 lakh crore in November 2020, as compared to Rs 1.84 lakh crore in the year-ago period, registering a negative growth of 5.20 per cent. In rupee terms, imports declined by 9.96 per cent during the month to Rs 2.48 lakh crore versus Rs 2.75 lakh crore in November 2019.

India's exports declined 8.74 per cent to $23.52 billion in the month of November, while imports fell by 13.32 per cent to $33.39 billion, as per the data released by the Ministry of Commerce and Industry on Tuesday. Exports segment contracted for the second consecutive month in November, sharper than a drop of 5.1 per cent in October, led by key sectors like petroleum, engineering, chemicals and gems and jewellery. Exports rose by 6 per cent in September after contracting for six months in a row.

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With the contraction in export and import, the country's trade deficit hit a 10-month high of $9.9 billion in November.

In rupee terms, exports stood at Rs 1.75 lakh crore in November 2020, as compared to Rs 1.84 lakh crore in the year-ago period, registering a negative growth of 5.20 per cent. In rupee terms, imports declined by 9.96 per cent during the month to Rs 2.48 lakh crore versus Rs 2.75 lakh crore in November 2019.

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