India’s Trade Deficit Narrows To $9.87 Billion In November As Exports Dip

The country's exports dipped 8.74% to $23.52 billion in November on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery, official data showed on Tuesday.

Trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32% to $33.39 billion, the data showed.

During April-November 2020-21, exports dropped by 17.76% to $173.66 billion, while imports contracted by 33.55% to $215.69 billion.

Trade deficit stood at $42 billion for the first eight months of the fiscal as compared to $113.42 billion in the same period last year.

Oil imports in November dropped by 43.36% to $6.27 billion.