Comments
India’s exports in November contracted 4.17 per cent year-on-year for the seventh month in a row, to $22.2 billion, due to a slowdown in demand in the US and European markets. Exports in November 2011 stood at $23.2 billion.
However imports grew by 6.35 per cent to $41.5 billion in November, leaving a trade deficit of $19.28 billion.
During April-October 2012-13, the country’s shipments have shrunk by 5.95 per cent to $189.2 billion. Imports during the period dipped by 1.58 per cent to $318.7 billion.
Commerce Secretary S. R. Rao said, “Hopefully by the end of the week, the Government will announce some support measures” to provide a cushion to exporters.
The country’s import bill has increased due to a jump in petroleum imports, he added. During the first eight months of this financial year, the trade deficit stood at $129.5 billion.
Oil imports in November increased by 16.7 per cent year-on-year to $14.5 billion. Non-oil imports grew by 1.5 per cent to $27 billion.
During April-November 2012, oil imports grew by 10.8 per cent to $110 billion from $99.3 billion in the corresponding period last year.
However, non-oil imports during the period dipped by 7 per cent year-on-year to $208.6 billion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.