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Home Business Exports fall 8.7%; trade deficit shrinks

Exports fall 8.7%; trade deficit shrinks

Declining for the second straight month, India’s exports dipped 8.7% in November to $23.52 billion on account of contraction in shipments at key sectors like petroleum, engineering, chemical compounds and gems and jewelry, even because the trade deficit narrowed to $9.87 billion.

Imports declined for the ninth month in a row, slipping 13.3% to $33.39 billion, authorities information confirmed.

Although the trade deficit narrowed from $12.75 billion in November 2019, the deficit widened from $8.78 billion in October.

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