New Delhi: Merchandise exports from India surged marginally in November on a year-on-year basis. Data released by the Union Commerce Ministry revealed this. As per the data, India’s merchandise exports in November surged to $31.99 billion. It reported a marginal rise of 0.6%. Imports in November posted a 5.4% rise to $55.88 billion. The merchandise trade deficit fell to $23.89 billion in November. It is the lowest in 7 months. Trade deficit is the difference between imports and exports of the country.
The exports from the country contracted 17% in October to $29.78 billion. It was the first time since February 2021 that monthly exports had fallen below the $30-billion mark and declined on a year-on-year basis.
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Exports in April-November amounted to $295.26 billion, up by 11.1%, while imports were 29.5% higher at $493.61 billion. Total exports, including services in April-November were $499.67 billion, up by 17.7%. Imports, meanwhile, rose 29.5% to $610.70 billion.
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