India’s April-November merchandise trade deficit estimated at $166.35 bn

India added $20.98 billion to its merchandise trade deficit in November 2023, taking the country’s overall merchandise trade deficit for the April-November 2023-24 period to $166.35 billion.

Merchandise exports from the country declined to $33.90 billion in November 2023, compared to $34.89 billion in November 2022.

Merchandise imports in November 2023 stood at $54.48 billion, against imports valued at $56.95 billion in November 2022.

Merchandise exports for the April-November 2023 period also stood lower at $278.80 billion compared to $298.21 billion during April-November 2022.

Merchandise imports for the period April-November 2023 stood at $445.15 billion against $487.42 billion during April-November 2022.

Overall merchandise trade deficit for April-November 2023 stood at an estimated $166.35 billion against $189.21 billion during April-November 2022.

Exports of non-petroleum and non-gems and jewellery products in November 2023 stood at $23.61 billion, compared to $24.30 billion in November 2022.

Imports of non-petroleum, non-gems and jewellery (gold, silver and precious metals) in November 2023 stood at $34.62 billion, compared to $34.95 billion in November 2022.

Non- petroleum and non-gems and jewellery exports during April-November 2023 stood at $202.05 billion, against $206.54 billion in April-November 2022.

Non-petroleum, non-gems and jewellery imports stood at $281.06 billion in April-November 2023 compared to $294.96 billion in April-November 2022.

During November 2023, fifteen of the 30 key sectors, including iron ore,  fruits and vegetables, meat, dairy and poultry products, oilmeals, mica, coal. minerals including processed minerals, gems and jewellery, spices, coffee, drugs and pharmaceuticals, cotton yarn/ fabrics/made-ups, handloom products, cereal preparations and other processed items, carpet, ceramic products and glassware, handicrafts (excluding handmade carpet and electronic goods), showed positive trend.

Under merchandise imports, 15 out of 30 key sectors, including pearls, precious and semi-precious stones, fertilisers, cotton raw and waste, vegetable oil, newsprint, pulp and waste paper, transport equipment, organic and inorganic chemicals, wood and wood products, chemical material and products, coal, coke and briquettes,  petroleum, crude and products, textile yarn/fabric, made-ups, artificial resins, plastic materials, sulphur and unroasted iron pyrites, showed  negative growth in November 2023.