NEW DELHI: Contraction in exports continued for the 12th month in a row last month as outward shipments shrank 24.43 per cent to $20.01 billion amid a global demand slowdown.
Imports too declined 30.26 per cent to $29.79 billion last month compared to November 2014.
Fall in imports has an impact on the trade balance as deficit fell to $9.78 billion as against $16.23 billion in November 2014. However, the November trade deficit was marginally higher than $9.76 billion in October.
The trade deficit for April-November 2015-16 was estimated at $87.54 billion, lower than the deficit of $102.50 billion year-on-year.
Gold imports in November fell 36.48 per cent to $3.53 billion. The import was $5.57 billion in the same month last fiscal year, data released by the Commerce Ministry showed.
On the export front, there was sharp decline in shipments of petroleum products (53.9 per cent), engineering goods (28.57 per cent), rice (37.12 per cent), iron ore (14.04 per cent), and gems & jewellery (21.52 per cent).
Import of coal, coke and briquettes contracted 50.19 per cent to $876.65 million as against $1.75 billion in November last year.
Cumulative value of exports during April-November 2015-16 stood at $174.30 billion as against $213.77 billion in the same period last year, down 18.46 per cent.
Outbound shipments in November last year were at $26.48 billion.
Imports for April-November 2015-16 came in at $261.85 billion as against $316.28 billion the previous year, a contraction of 17.21 per cent.
Oil imports in November were valued at $6.43 billion, down 44.99 per cent as against shipments of $11.69 billion a year ago.
Non-oil imports were estimated at $23.35 billion, which were 24.7 per cent lower year-on-year.
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