Exports On The Up For The Third Straight Month, But Trade Deficit Balloons To A High

Signalling a definitive reversal of the continuous decline in Indian exports earlier in the year, official data today (15 December) showed these grew for the third month in a row at $20 billion in November, an uptick of 2.29 per cent over the $19.56 billion in November 2015.

A Business Standard report says the strong showing of exports came on the back of a healthy growth in shipments of petroleum products and engineering goods.

Imports too increased by 10.44 per cent to $33 billion, leaving a trade deficit of $13 billion in November. The trade deficit is now at a two-year high and has come about as a result of the increase in gold imports. In the same month last year, the trade deficit was $10.33 billion.

With inputs from IANS