India's Trade Woes: Rising Imports, Dipping Exports

India's merchandise exports fell by 4.85% in November to USD 32.11 billion, while imports surged by 27% to USD 69.95 billion, leading to a trade deficit of USD 37.84 billion. Gold imports hit a record USD 14.8 billion. Yearly figures show exports grew 2.17% and imports 8.35%.

India's merchandise exports have witnessed a dip, falling by 4.85% to USD 32.11 billion this November, as per the government's latest data. This comes in contrast to last November's figures of USD 33.75 billion.

Meanwhile, imports have surged significantly by 27%, amounting to USD 69.95 billion compared to USD 55.06 billion in November of the previous year. Notably, gold imports reached a historic high of USD 14.8 billion this month.

The trade deficit has consequently widened to USD 37.84 billion. Cumulatively, for the fiscal period from April to November, exports increased by 2.17% to USD 284.31 billion, while imports rose by 8.35% to USD 486.73 billion.

(With inputs from agencies.)