India’s exports contract 0.34% in November; trade deficit narrows to $12.12 billion

16 Dec 2019 Evaluate

Falling for fourth straight month, India’s merchandise exports contracted by 0.34% in November 2019 as compared to same period of last year, mainly on account of poor shipments of petroleum, gems & jewellery and leather products. Trade deficit, gap between imports and exports, narrowed to $12.12 billion in November from $17.58 billion a year ago.

As per the data released by the Commerce Ministry, merchandise exports fell by 0.34% to $25.98 billion in November 2019, as compared to $26.07 billion in the same month a year ago. In Rupee terms, it was down by 0.90% to Rs 1,85,644.81 crore in November 2019, as compared to Rs 1,87,335.14 crore in November 2018. Cumulative value of exports for the period April- November 2019-20 was $211.93 billion as against $216.23 billion during the period April- November 2018-19, registering a negative growth of 1.99%. In Rupee terms, it was down by 1.04% to Rs 14,89,793.87 crore from Rs 15,05,216.55 crore.

Non-petroleum and Non Gems and Jewellery exports in November 2019 were $19.31 billion, as compared to $18.55 billion in November 2018, exhibiting a positive growth of 4.08%. Non-petroleum and Non Gems and Jewellery exports in April- November 2019-20 were $156.76 billion, as compared to $156.49 billion for the corresponding period in 2018-19, an increase of 0.17%.

On the other hand, Imports during November 2019, decreased by 12.71% to $38.11 billion as compared to $43.66 billion in November 2018, and in rupee terms it was down by 13.20% to Rs 2,72,274.45 crore from Rs 3,13,680.85 crore in November 2018. Cumulative value of imports for the period April- November 2019-20 was $318.78 billion, as against $349.96 billion during the period April- November 2018-19, registering a negative growth of 8.91%. In rupee terms, it was Rs 22,39,900.18 crore, down by 8.11% from Rs 24,37,538.61 crore in the same period last year.

Oil imports in November 2019 were $11.06 billion, which were 18.17% lower, compared to $13.52 billion in November 2018. Oil imports in April- November 2019-20 were $84.99 billion which were 12.99% lower compared to $97.69 billion, over the same period last year. Non-oil imports during November 2019 were estimated at $27.04 billion which was 10.26% lower than non-oil imports of $30.14 billion in November 2018. Non-Oil and Non-Gold imports were $ 24.10 billion in November 2019, down 11.96% over the same period of last year. Non-Oil and Non-Gold imports were $213.19 billion in April- November 2019-20, down 7.35%, over the same period of last year.

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