Exports rise 19.37% to six-month high in Nov

Trade gap shrinks to 5-month low

- MPOST BUREAU

India's merchandise exports climbed to a six-month high in November, rising 19.37 per cent to $38.13 billion after contracting in October, according to data released by the government on Monday. Stronger shipments of engineering goods, electronics and several agricultural and marine products lifted overall performance and helped narrow the trade deficit to a five-month low of $24.53 billion.

November's export value is the highest since May, when outbound shipments stood at $38.73 billion, and reflects the sharpest month-on-month expansion since June 2022. Imports declined 1.88 per cent to $62.66 billion, a fall driven mainly by reduced purchases of gold, crude oil, coal and coke. Gold imports registered a steep 59.15 per cent drop to $4 billion, while crude oil imports slid 11.27 per cent to $14.11 billion.

The decline in imports played a key role in reducing the trade gap. The last time the deficit was lower was in June at $18.78 billion. October had seen a record deficit of $41.68 billion, fuelled by a surge in gold imports and weakened exports.