India's trade deficit narrows to $13.83 billion in November

Marco Green
December 15, 2017

Exports during November 2017 have exhibited high positive growth of 30.55% in dollar terms vs November 2016. Exports had witnessed a decline of 1.12 per cent to Dollars 23 billion in October this year, retreating from a six-month high growth rate in September.

Healthy off-take of India's engineering and petroleum products pushed exports higher to $26.19 billion in November from $23 billion in October and $20.06 billion during the corresponding month of past year, official data showed on Friday.

Exports during November 2017 are valued at $ 26.19 bn as compared to $20.07 bn during November, 2016. In rupee terms, exports registered an increase of 25.21% were valued at Rs.169912 crore as compared to Rs.135699 crore in November a year ago.

Import payments were at United States dollars 7.68 billion in October 2016.

"During November, exports are valued at $26.19 billion as compared to $20.06 billion in the same month a year ago".

For November 2017, the trade deficit was estimated at $13.8 billion as against the deficit of $13.4 billion during the same month a year ago.

Segment-wise, the data showed that India's oil imports during November shot up by 39.14 per cent to $9.55 billion, from $6.86 billion in the same month past year.

Oil imports during April-November, 2017-18 were valued at $ 65.80bn which was 22.65% higher than the oil imports of $ 53.65 bn in the corresponding period a year ago.

Cumulative exports during April-September 2017-18 increased by 12.01 percent to USD 196.48 billion, while imports grew by 25.08 percent to USD 296.45 billion, leaving a trade deficit of USD 99.97 billion.

Other reports by Click Lancashire

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