New Delhi: Domestic and global slowdown along with lower crude oil prices heavily dented India’s external trade as both exports and imports for November showed a downward trend.
Accordingly, November exports were marginally down to $25.98 billion from $26.07 billion reported for the corresponding period of the previous year. Even on sequential basis, exports were lower than $26.38 billion worth of merchandise that were shipped out in October.
“Non-petroleum and non-gems and jewellery exports in November 2019 were $19.31 billion, as compared to $18.55 billion in November 2018, exhibiting a positive growth of 4.08 per cent,” the ministry said in a statement.
On the other hand, imports declined by 12.71 per cent to $38.11 billion in November from $43.66 billion reported for the corresponding month of 2018.
“Oil imports in November 2019 were $11.06 billion, which was 18.17 per cent lower in dollar terms, compared to $13.52 billion in November 2018,” the ministry said.a