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India's trade deficit comes at $23.27B in Nov 2021, export rises by 26.49% yoy

Value of non-petroleum exports in November 2021 was 26.06USD billion, registering a positive growth of 18.1%.

December 02, 2021 10:53 IST | India Infoline News Service
trade deficit
India’s merchandise exports in November 2021 was $29.88B, an increase of 26.49% over $23.62B in November 2020 and an increase of 15.93% over $25.77B in November 2019, the commerce ministry said.

The trade deficit in November 2021 was $23.27B, while it was121.98B $during April-November 2021.

India’s merchandise imports in November 2021 was $53.15B, an increase of 57.18% over $33.81B in November 2020 and an increase of 37.96% over $38.52billion in November 2019.

India’s merchandise imports in April-November 2021 was $384.44B, an increase of 75.39% over $219.19B in April-November 2020 and an increase of 18.44% over $324.59B in April-November 2019, the commerce ministry added.

Value of non-petroleum exports in November 2021 was 26.06$billion, registering a positive growth of 18.1% over non-petroleum exports of $22.06B in November 2020 and a positive growth of 18.69% over non-petroleum exports of $21.95B in November 2019.

Value of non-petroleum imports was $38.47B in November 2021 with a positive growth of 39.9% over non-petroleum imports of $27.5B in November 2020 and a positive growth of 40.12% over non-petroleum imports of $27.45B in November 2019.

Aditi Nayar, Chief Economist, ICRA Ltd said, “The holidays in the festive season have substantially dented the momentum in merchandise exports in November 2021, bringing them down to the lowest level of FY2022. We are cautiously optimistic that the exports momentum will revive, although the uncertainty engendered by the Omicron variant poses a concern regarding the immediate outlook.”

The cumulative value of non-petroleum and non-gems and jewellery exports in April-November 2021 was $199.56B, an increase of 37.89% over cumulative value of non-petroleum and non-gems and jewellery exports of $144.72B in April-November 2020 and an increase of 27.03% over cumulative value of non-petroleum and non-gems and jewellery exports of $157.09B in April-November 2019.

Non-oil, non-GJ (Gold, Silver & Precious Metals) imports was $228.09B in April-November 2021, recording a positive growth of 49.52%, as compared to non-oil and non-GJ imports of $152.55B in April-November 2020 and a positive growth of 13.54% over $200.89B in April-November 2019.

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