Exports up for 3rd straight month in November; imports jump 10%

New Delhi: Expanding for the third straight month, exports rose 2.29 percent to USD 20 billion in November on account of healthy growth in shipments of petroleum products and engineering goods.

Exports of engineering products rose by 14.10 percent, petroleum by 5.73 percent and chemicals by 8.3 percent compared to the same month last year, according to official data released Thursday.

Imports too increased by 10.44 percent to USD 33 billion, leaving a trade deficit of USD 13 billion in November.

The country's merchandise exports during April-November period of the current fiscal too recorded a growth of 0.10 percent to USD 174.92 billion.

Imports, however, contracted by 8.44 percent to USD 241.1 billion, leaving a trade deficit of USD 66.17 billion.

Gold imports during the month increased by 23.24 percent to USD 4.36 billion.

Oil imports in November grew by 5.89 percent to USD 6.83 billion. Non-oil imports rose by 11.7 percent to USD 26.18 billion.

Since December 2014, exports fell for 18 consecutive months till May 2016 due to weak global demand and slide in oil prices.

Shipments witnessed growth only in June this year, but again slipped in July and August. Exports started recording positive growth from September.