Exports Rise 27.16% To $30.04 Billion In November, Trade Deficit At $22.9 Billion

The country's merchandise exports jumped 27.16 per cent to $30.04 billion in November driven by sectors such as petroleum products, engineering goods and electronic items, government data showed on Tuesday. Exports stood at $23.62 billion in the year-ago period. Imports stood at $52.94 billion, registering an increase of 56.58 per cent on the back of inbound shipments of $33.81 billion in the year-ago period.

In November 2021, the trade deficit - the gap between imports and exports, stood at $22.91 billion, compared to $10.19 billion in November 2020, according to commerce industry data. Gold imports rose nearly 40 per cent to $4.22 billion, compared to 3.02 billion in the year-ago period.

During April-November 2021, merchandise exports stood at $263.57 billion, up 51.34 per cent compared to $174.16 billion during the corresponding period last year.

Exports of petroleum products in November climbed 154.22 per cent at $3.95 billion on a yearly basis. The outward shipments of engineering goods rose to nearly $8 billion, recording an increase of 37 per cent against he same month last year.

On the imports front, inbound shipments of 'coal, coke and briquettes' stood at $3.57 billion, rising 135.81 per cent over November 2020. The imports of 'petroleum, crude and products' also surged 132.43 per cent at $14.67 billion. The import of vegetable oil shot up by 78.82 per cent to $1.75 billion.

The data also revealed that the estimated value of services export for November 2021 was $20.33 billion, registering an increase of 16.88 per cent against the same month last year - when it came in at $17.39 billion.

The estimated value of services import was $11.81 billion, marking a growth of 20.71 per cent over November 2020, when it was $9.78 billion.