Trade deficit increases in November over October, gold and oil imports rise.

Trade deficit increases in November over October, gold and oil imports rise.

 

Trade deficit in November has crossed $ 12 billion in comparison to October. However, this figure is less than the $ 17.5 billion in November last year. Export declined for the fourth consecutive month in November. During this period, exports decreased to about $ 26 billion. At the same time, imports have increased compared to the previous month, which increased from $ 36 billion to around $ 38 billion. Oil import was the biggest part of this, which stood at $ 11 billion in November. There was also an increase in gold imports.

Exports in November declined 0.3 per cent year-on-year to $ 259.8 million. At the same time, imports have fallen by 12.7 per cent year-on-year to $ 3811 million. Trade deficit in November declined to $ 1212 million from $ 17.58 million in the same period last year. Oil imports declined by 18.2 percent year-on-year to $ 1106 million in November. Non-oil imports declined by 10.3 per cent year-on-year to $ 2704 million in November. Gold imports in November rose 6.6 percent year-on-year to $ 294 million. At the same time, petroleum product export in November declined by 13.1 percent to $ 409 million on an annual basis. Engineering goods exports in November grew 6.3 per cent year-on-year to $ 630 million. At the same time, the Gems & Jewelery exports in November declined by 8.1 percent to $ 258 million on an annual basis. Electronic Goods Import declined 4 per cent year-on-year to $ 420 million in November.