Nov. exports decline 9.1%, imports slide

India’s merchandise exports fell 9.1% in November to $23.43 billion, while imports fell 13.3% to $33.39 billion, preliminary data from the Commerce and Industry Ministry show.

“April to November, there has been a decline of 17.84% in our exports,” Press Trust of India cited Commerce Secretary Anup Wadhawan as having said at the Board of Trade meeting on Wednesday. “If we exclude gems and jewellery and petroleum, then the decline is lower.... In the sectors where economic activity is more meaningful in terms of value addition, there the decline is much lower,” he added.

The secretary said that export sectors which did well during the eight-month period include pharma, which grew by 15%, rice (39%), and iron ore (62%).

The sharpest fall in November’s exports was clocked by petroleum products (61.05%), leather (29.80%), cashew (24.90%), followed by plastic and linoleum (23.34%). The highest growth in exports during the month was recorded for other cereals (164.67%), oil meals (70.54%), iron ore (68.15%), rice (24.41%) and ceramic products and glassware (20.98%).

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Printable version | Jan 20, 2021 10:16:30 PM |

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