Home ECONOMY India’s trade deficit up $9.21 billion in November

India’s trade deficit up $9.21 billion in November

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New Delhi, Dec 11 :

India’s trade deficit rose to $9.21 billion in November, government data showed Wednesday.

According to data released by the commerce and industry ministry here, the value of merchandise exports in November grew by 5.86 percent at $24.61 billion from the $23.25 billion worth of goods shipped-out in the corresponding period of 2012.trade deficit

However, imports plunged by 16.37 percent at $33.83 billion in the month under review from $40.45 billion imported in the corresponding month of last year.

In October, the country’s trade deficit rose to $10.55 billion after narrowing to a two-and-half-year low of $6.7 billion in September.

Pick up in purchases of gold and silver during the festive season in that period was cited as the main reason for the trade deficit gap to increase. (IANS)