India's November merchandise exports fall by over 9% YoY
New Delhi, December 2, 2020
Rising coronavirus cases and subsequent lockdowns in key export markets dragged India's merchandise exports lower by 9.07 per cent in November, preliminary data showed on Wednesday.
The country's merchandise exports during the month under review receded to $23.43 billion from $25.77 billion in November 2019
"Exports during April-November 2020-21 were $173.49 billion, as compared to $211.17 billion during the same period last year, exhibiting a negative growth of 17.84 per cent," a Ministry of Commerce and Industry statement said on the basis of preliminary data.
"In November 2020, the value of non-petroleum exports was $21.95 billion, registering a negative growth of 0.03 per cent over November 2019."
However, the data showed that value of non-petroleum and non-gems and jewellery exports in November 2020 was $19.26 billion as compared to $19.37 billion in November 2019, registering a negative growth of 0.59 per cent.
"The cumulative value of non-petroleum and non-gems and jewellery exports in April-November 2020-21 was $144.04 billion, as compared to $157.09 billion for the corresponding period in 2019-20, exhibiting a decrease of 8.30 per cent," the statement said.
Similarly, India's merchandise imports declined by 13.33 per cent in November to $33.39 billion from $38.52 billion during the corresponding month of the previous year.
"Merchandise imports during April-November 2020-21 were USD 215.67 billion, as compared to $324.59 billion during the same period last year, exhibiting a negative growth of 33.56 per cent," the statement said.
Segment wise, oil imports were down 43.36 per cent to $6.27 billion from $11.07 billion in November 2019.
"Non-oil imports in November 2020 were estimated at $27.12 billion, as compared to $27.45 billion in November 2019, showing a decline of 1.22 per cent.
"Non-oil, non-GJ (gold, silver and precious metals) imports were $22.25 billion in November 2020, recording a negative growth of 0.84 per cent, as compared to non-oil and non-GJ imports of $22.44 billion in November 2019."
In addition, the data showed that India was a net importer in November 2020, with a trade deficit of $9.96 billion, as compared to trade deficit of $12.75 billion, improvement by 21.93 per cent.