India's trade gap widens in November
The deficit for November was $7.4 billion, compared to $5.5 billion in the same month a year ago, the data showed.
By Agencies |
NEW DELHI: India's trade deficit increased by nearly two billion dollars in November from a year ago despite a surge in exports, official figures showed on Wednesday.
The deficit for November was $7.4 billion, compared to $5.5 billion in the same month a year ago, the data showed.
Exports grew 26.8 per cent to $12.4 billion in November even though the rupee has strengthened significantly over the last year. Imports rose 29.2 per cent to $19.8 billion.
The rupee has climbed more than 12 per cent against the dollar over the past 12 months, in part because India's rapid economic growth has attracted foreign investors.
Oil imports rose 16.7 per cent from a year ago to $5.8 billion. Non-oil imports rose 35.3 per cent to $14 billion.
The deficit for November was $7.4 billion, compared to $5.5 billion in the same month a year ago, the data showed.
Exports grew 26.8 per cent to $12.4 billion in November even though the rupee has strengthened significantly over the last year. Imports rose 29.2 per cent to $19.8 billion.
The rupee has climbed more than 12 per cent against the dollar over the past 12 months, in part because India's rapid economic growth has attracted foreign investors.
Oil imports rose 16.7 per cent from a year ago to $5.8 billion. Non-oil imports rose 35.3 per cent to $14 billion.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
