India's November exports down over 24% as trade shrinks for the 12th month
15 Dec 2015
India's merchandise exports registered a decline, falling as much as 24.43 per cent decline to $20.01 billion in November as exports continued to decline for the 12th consecutive month, official trade data released today showed.
The country's trade deficit for the first eight months of the current financial year (April-November 2015-16) was estimated at $87.54 billion, which, however, was lower than the deficit of $102.51 billion during April-November 2014-15.
Exports during November 2015 were valued at $20.01 billion (Rs132,328.24 crore), which was 24.43 per cent lower in dollar terms and 19.03 per cent lower in rupee terms compared to exports worth $26.49 billion (Rs163,427.94 crore) during November 2014.
Cumulative value of exports for the period April-November 2015-16 was $174.306.46 million (Rs1,124,831.81 crore) against $213.77 billion (Rs1,293,967.32 crore), registering a negative growth of 18.46 per cent in dollar terms and 13.07 per cent in rupee terms over the same period last year.
Imports during November 2015 were valued at $29.80 billion (Rs197,001.90 crore), which was 30.26 per cent lower in dollar terms and 25.27 per cent lower in rupee terms over the level of imports valued at $42.72 billion (Rs263,615.72 crore) in November 2014.
Cumulative value of imports for the period April-November 2015-16 was $261.85 billion (Rs1,689,681.20 crore) as against $316.28 billion (Rs1,915,128.52 crore), registering a negative growth of 17.21 per cent in dollar terms and 11.77 per cent in rupee terms over the same period last year.
Oil imports during November 2015 were valued at $6.44 billion, which was 44.99 per cent lower than oil imports valued at $11.70 billion in the corresponding period last year.
Oil imports during April-November 2015-16 were valued at $61.41 billion, which was 42.39 per cent lower than the oil imports of $106.60 billion in the corresponding period last year.
Non-oil imports during November 2015 were estimated at $23.36 billion which was 24.7 per cent lower than non-oil imports of $31.02 billion in November 2014. Non-oil imports during April-November 2015-16 were valued at $200.44 billion, which was 4.41 per cent lower than the level of such imports valued at $209.68 billion in April-November 2014-15.