India November Exports at $22.3 bn; Trade deficit at $13.6 bn !

India’s November exports arrived at $22.3 billion and imports for the month stood at $35.9 billion, resulting in a net trade deficit of $13.6 billion. On a positive note, November trade deficit shrank substantially from October’s record $19.6 billion trade gap marred by lower Indian exports and shipments.

Further, India’s exports rose 33.2% to $192.7 billion for the eight month period of April to November 2011. However, growth in imports by 30.2% to $309.5 billion spoiled the party to sum up a trade deficit of $116.8 billion during the eight month period.

header thumb India’s exports grow by 12.4% in Oct 2011, Trade deficit at record $19.6 billion !

Commerce Secretary Rahul Khullar expects the trade deficit to crossover the crucial $150 billion this fiscal year, as balance of trade remains a serious problem on account of strong imports. The imports in the first half of the fiscal were driven by increasing imports of petroleum, oil and lubricants and precious metals.

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